Named beneficiaries of ‘A’ Members may receive a $6,250 death benefit if death occurs by natural causes or $12,500 for those who die accidently. ‘A’ Members require only six months of IBEW membership for their beneficiary to receive the death benefit.

“A” members of the I.B.E.W. are generally able to participate in the Pension Benefit Fund. The Fund was established in 1927 to receive payments from participating members so that they might enjoy normal pensions. It is a plan designed by the members for the members, and administered by members of the I.B.E.W.

Participants in the National Electric Annuity Plan (NEAP) for the International Brotherhood of Electrical Workers (IBEW) may take their money out of the plan before retirement, but only if they close their account and withdraw the entire amount.

The truth is, an IBEW pension is still one of the best investments a person can make in their retirement security, and it’s good to see the numbers to back it up.” The PBF, which Burton runs, is the modern version of the original death benefit that Henry Miller and the IBEW’s founders established in 1891.

A. No. The employer’s contributions are not taxable income to the individual, nor are earnings thereon, as this is tax exempt qualified Pension Trust.

As a result, those who hold “BA” membership leave employment upon retirement, cease the payment of union dues, and not only are they not eligible to request an application for pension from the IBEW Pension Benefit Fund, but their survivors are not eligible to receive a death benefit.

“A” members need only hold IBEW membership for six months for their named beneficiary to receive the death benefit. The beneficiaries of retired “A” members may also be eligible for a death benefit between $3,000 and $6,250, depending upon how much the member has received in pension benefits at the time of their death.

You may withdraw up to 75% of the balance of your Accumulated Share. This amount may include taxes and penalties associated with the withdrawal. Hardship withdrawals are limited to one time in a twelve (12) month period. The minimum amount of the hardship withdrawal is $2,000.00.

How is my monthly pension benefit payable at Normal Retirement Age calculated? Your benefit amount contains three (3) parts: $6.00 multiplied by the number of years and fractions of Credited Past Service. The applicable Future Service Unit multiplied by Credited Future Service earned through July 1, 1982.

To request an Honorary Withdrawal, simply send us an email to [email protected] stating that you are requesting Honorary Withdrawal. Then, when you resume employment, send us an email notice that you wish to reactivate your membership.

Can I withdraw a portion of my balance and leave the rest in my account? No. NEAP does not permit partial withdrawals. You must withdraw the entire balance of your individual account.