The retired members of the International Brotherhood of Electrical Workers are a group of individuals who earned the right to live out their life as Retirees after a long career, with the comfort and dignity of having earned a defined pension and healthcare benefits. There are many options available for each active member during their years of membership. Each selection you make is secure and available when you need it the most – IN RETIREMENT!
Pension Benefit Fund
Members of IBEW are able to participate in the Pension Benefit Fund. The Fund was established in 1927 to receive payments from participating members so they might enjoy normal pensions. At that time, it was practically impossible for the members to obtain similar benefits at any cost. The IBEW has never defaulted in the payment of pension benefits since the plan was established. The Pension Plan is designed to provide benefits at the lowest possible cost to the participating members. It is a plan designed by the members for the members and dministered by members of the IBEW. The receipt of benefits is dependent solely upon maintaining continuous good standing as an “A” member of the IBEW and upon compliance with the provisions of the IBEW Constitution.
The IBEW Pension Benefit Fund has been consistently improving since its inception. Today’s benefits differ from those available to members retiring in prior periods. Because of this, your attention is specifically directed to Article XI of the IBEW Constitution, which contains the provisions relating to the Pension Benefit Fund.
I.B.E.W. Local 716 is interested in the security of its members in retirement. A secure
post-career can and will open doors to all sorts of exciting possibilities, even in retirement! Just because you’re retired does not mean that life stops. We encourage our retired members to stay involved and even help guide our young apprentices. The fact is, union workers receive higher wages and benefits versus their non-union counterparts. This means you have health care and a pension, which is superior to electricians in non-union shops, according to the U.S. Department of Labor.
Local 716 has programs in place to ensure our members are taken care of during their careers, so they can live in retirement with the dignity and security they deserve.