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  • Retirement Plans
    Updated On: Nov 02, 2020

    RETIREMENT PLANS

    There are four sources of income for those retiring from the trade working under the IBEW/NECA program and contracts.

        * Social Security

        * Local Pension plan through IBEW LU 238. The employer pays $2.23 per hour for each journey level employee         and a lesser amount for upper-class apprentices and CE's. This pay is NOT deducted from wages.

        * National Electrical Benefit Fund. Currently Pays $32.00 per month for every year of service upon retirement.           Must work 300 hours in calendar year for good service year. This cost is NOT deducted from wages.

        * Upon retirement, the IBEW International pension pays $4.50 per month for every year one paid union dues.

        * The IBEW also provides a death benefit

    HEALTH INSURANCE is provided for Construction Wireman levels 1b-4, all Construction Electricians, Apprentices, and Journeyman


  • IBEW Local 238

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