IBEW Local 520 Union Benefits

PENSION BENEFITS

 

IBEW

$ 4.50 for each Year of Service

 

NEBF

$ 32.00 for each Year of Service with a Contractor*

*This pension amount will be adjusted, based on the amount paid when you last worked in the trade.

 

NOTES:

  1. Both pensions are payable beginning at age 62 or after 20 years with the IBEW for Disability benefits.
  2. NEBF Vesting requires 5 years of service.
  3. The International will not send paperwork for a member until they are within 6-months of reaching age 62.

DEATH BENEFIT FUNDS

 

IBEW

$ 6,250  for an active member

$ 3,000 is the minimum benefit amount for a retired member

 

LU 520 FUND

$ 8.00 for each active member*

*This currently equates to over $8,000