Notice to all members:
The following information is for your file. This will help you to summarize the different benefits available. Please check your agreement for the benefits that apply to you.
The following information is for your file. This will help you to summarize the different benefits available. Please check your agreement for the benefits that apply to you.
Local 176 Business Office
NECA-IBEW PENSION TRUST FUND - (Decatur Pension) - 5 year vesting. Early Retirement with reduction - age 55-59. Full benefits - age 60 - Current contribution (paid by contractors)
NEBF PENSION - (National Electrical Benefit Fund) - 5 year vesting (3% of gross earnings) - current retirement rate $32.00 per month per year of credited service ($33.00 per month beginning in 2025) - Early Retirement with reduction - age 60 & 61. Full benefits - age 62. (paid by contractors)
IBEW PENSION - (International Pension) - 20 year vesting - paid through dues - current retirement rate - $5.50 per month for each full year of continuous good standing as an "A" member-$4.50 per month (2022-1997)-$3.50 per month prior to 1997. Early retirement with reduction - age 62-64. Full benefits- age 65. MEMBER MUST CONTINUE TO PAY UNION DUES UNTIL APPROVED FOR THIS PENSION.
ALL ABOVE IS GENERAL INFORMATION - INDIVIDUALS MAY HAVE VARIANCES
NUMARK CREDIT UNION - (Vacation Fund) - Current contribution rate (deducted from wages)
STANDARD LIFE INSURANCE - $8,500.00 life insurance - paid through dues $100.56 yearly (effective 4/1/2023)
IBEW DEATH BENEFIT - $6,250.00-$3,000.00 - this benefit changes based on how long pension has been collected. Amounts double if death is accidental
For questions, please contact Missy at (815) 729-1240, option 1.
NEBF PENSION - (National Electrical Benefit Fund) - 5 year vesting (3% of gross earnings) - current retirement rate $32.00 per month per year of credited service ($33.00 per month beginning in 2025) - Early Retirement with reduction - age 60 & 61. Full benefits - age 62. (paid by contractors)
IBEW PENSION - (International Pension) - 20 year vesting - paid through dues - current retirement rate - $5.50 per month for each full year of continuous good standing as an "A" member-$4.50 per month (2022-1997)-$3.50 per month prior to 1997. Early retirement with reduction - age 62-64. Full benefits- age 65. MEMBER MUST CONTINUE TO PAY UNION DUES UNTIL APPROVED FOR THIS PENSION.
ALL ABOVE IS GENERAL INFORMATION - INDIVIDUALS MAY HAVE VARIANCES
NUMARK CREDIT UNION - (Vacation Fund) - Current contribution rate (deducted from wages)
STANDARD LIFE INSURANCE - $8,500.00 life insurance - paid through dues $100.56 yearly (effective 4/1/2023)
IBEW DEATH BENEFIT - $6,250.00-$3,000.00 - this benefit changes based on how long pension has been collected. Amounts double if death is accidental
For questions, please contact Missy at (815) 729-1240, option 1.
Health & Welfare Office
NECA-IBEW LOCAL 176 PENSION PLAN - (Local Pension) - immediate vesting - Current contribution rate (paid by contractors) - Eligible at age 55
NECA-IBEW LOCAL 176 HEALTH & WELFARE FUND - (Medical, dental, vision and MAP) Current contribution rate (paid by contractors)
SUPPLEMENTAL UNEMPLOYMENT BENEFITS FUND - (SUB Fund) - Current contribution rate (paid by contractors)
AMALGAMATED LIFE- Life Insurance $25,000.00 (2/1/15) - eligible to employees covered under Health & Welfare until age 65
AMALGAMATED LIFE - Accidental Death & Dismemberment Ins. $25,000.00 (2/1/15) - eligible to employees covered under Health & Welfare until age 65
For questions, please contact Nichole at (815) 729-2666, option 3.
Please remember to change beneficiaries with each office listed. This cannot be done automatically. It must be requested by you!