Retirees Info

On the 2nd Tuesday of each month, IBEW Local 716 and Local 66 Retirees gather together and meet for coffee at 11:00 AM and a catered luncheon served at noon. Following the luncheon, there is a short business meeting. We also have a drawing for five (5) $20.00 door prizes. Raffle tickets are also sold for $1.00 each. Anyone wishing to bring door raffle ticket items may do so (example: a small plant, cake, cookies, etc.).

From January through June, the Retirees meet at Local Union 716 in the upstairs hall located at 1475 North Loop West, Houston, TX 77008 / (713) 869-8900. From July through December, they meet at Local Union 66 located at 4345 Allen Genoa Road, Pasadena, TX 77504 / (713) 943-0716.

 

Membership dues for the year are $5.00 for Retirees and $3.00 for Widows of Retirees.

 

For additional information, contact Homer Jones or his wife, Linda, at (281) 487-0079 or email Linda at lljones58@sbcglobal.net.

 

 

Retirement Planning

Approximately 3 months prior to your planned retirement date, your Pension Applications should be completed and turned in to the IBEW LU 716 Pension Office, NEBF and I.O. Pension Office.

 

The I.O. Pension application is created here at the hall. We will print it for you to complete, and then return the application with required documents to the hall where the application will be read at the next available Union meeting (typically the 1st or 3rd Wednesday of each month). Then, we will sign, seal, and mail the application with documents to the I.O. for you.

 

IBEW LU 716 Pension Office

713-643-9300

Call and request a Pension Application and Retirement Summary. You should receive it within ten (10) business days.

 

Call and request a Pension Application and Pension Benefit Statement. You should receive it within ten (10) business days. After completing the application and returning the application with documentation, you will receive a letter from the NEBF telling you what your retirement benefits are. If married, it will ask your Election of Spouse Benefits from 50% or 75%.

 

Possible Required Documents include:
  • Voided check
  • Copy of your driver’s license, SS Card, Passport, Birth Certificate / Proof of Age
  • Copy of your spouse’s driver’s license, SS Card, Passport, Birth Certificate / Proof of Age
  • Copy of marriage license or certificate, if previously married, all signed divorce decrees
  • Social Security Disability Award, if applicable

For additional questions, call Dues Office, Fred Ellis 713-869-8900, ext. 242.

 

Click here to view NEW NEBF INFORMATION >

Click here to view 401(k) Voluntary Employee Deduction Form >

 

Pension Benefits Enhancement

What this means to your Pension Benefits earned if you are under the age of 62:
  • If you work 1600 hours in a plan year, you earn 1 credit year or $50.00 per Month.
  • If you work 2000 hours in a plan year, you earn 1.25 credit years or $62.50 per Month.
What this means to your Pension Benefits earned over the age of 62:
  • If you work 1600 hours in a plan year, you earn 1 credit year or $50.00 per Month.
  • If you work 2000 hours in a plan year, you earn 1.25 credit years or $62.50 per Month.
  • If you work 2200 hours in a plan year, you earn 1.38 credit years or $69.00 per Month.
  • If you work 2400 hours in a plan year, you earn 1.50 credit years or $75.00 per Month.

Benefit Funds

This is a voluntary fund set up by the Local Union to provide death benefits to your designated beneficiary upon proper notification of your death. The initiation fee to this fund is twelve dollars ($12.00). Each time a member of the fund dies, each remaining member is assessed a sum of two dollars ($2.00) per death. Death Benefit payments will be billed to you whenever six (6) deaths of members of this fund have occurred. The fund averages paying approximately thirty (30) deaths per year. This fund has approximately 550 members at this time. A beneficiary would receive approximately $1,100.00 upon the death of a member of the fund. If all “A” members were to join, this benefit would be valued at approximately $6,000.

In both of the above voluntary funds, the payments to the participants are determined by the number of members perticipating in the funds. In other words, the more participants – the larger the payments.

This fund provides for weekly payments to participating members who are unable to work due to an accident or illness. The cost of this fund is two dollars ($2.00) per month. There is a waiting period of thirty (30) days from the date of the first payment before a member becomes qualified. However, no claims for benefits on surgery or old illnesses shall be considered until six (6) months have lapsed from the date of admission into the Sick and Accident fund. After the qualification period, a member may begin receiving benefits after a period of seven (7) continuous days of sickness (Saturdays, Sundays, and Holidays are included). Benefits are payable up to a maximum of twenty-six (26) weeks per illness. The maximum weekly amount is $50.00 with the minimum amount being $20.00.

(ITALICS)In both of the above voluntary funds, the payments to the participants are determined by the number of members perticipating in the funds. In other words, the more participants – the larger the payments.

Once a year, every “A” member of Local Union 716 shall be assessed one dollar ($1.00) to replenish and maintain this fund. This assessment is due and payable with the July dues payment. The purpose of this fund is to pay the union dues of an “A” member who is unable to pay due to a sickness or disability. A request for payment of benefits from this fund must be approved by the Executive Board. This is the only fund where the payment is considered a loan and is to be repaid in the amount of $1.00 per working day (or $20.00) per month, when the member is able to return to work.

If you are interested in joining the Death Benefit or Sick and Accident Funds, or are ever in need of applying for the Dues Benefit Fund, please contact the Dues Office.