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 $1.91 per hour for each journey level employee and lesser amount for upper class apprentices and CE members. This pay is NOT deducted from wages.
* National Electrical Benefit Fund. Currently Pays $32.00 per month for every year of service upon retirement. 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