IBEW PENSION BENEFIT FUND [PBF]

IBEW PENSION BENEFIT FUND [PBF]

1) PBF is $4.50 per month per years of membership ? 65 years old ? Normal Pension / no reduction ? 64 years old ? 6.66% reduction ? 63 years old ? 13.33% reduction ? 62 years old ? 20.00% reduction

2) 50% Joint & Survivor ? actuarially equivalent 3) Stop paying dues when starting retirement 4) Death Benefit

A) Starts at $6,250.00 B) Reduces down monthly by amount of checks received C) Stops at $3,000.00

Go to: On the Home Page click on the Menu button [left corner] and

then under the DEPARTMENTS tab: Click Pension & Reciprocity

On that page scroll ? down and look for: IBEW Pension Benefit Fund [PBF] Documents Click Pension Calculations, Applications & Instructions

On that page fill in your last 4 SSN digits AND Card Number: Click the Submit button

At that point the system will inform you of any immediate IBEW pensions you may be eligible for: Disability / Vested / Early / Regular

Click the Pension Calculator button and the system will provide you with your various "Pension Projection" calculations

Please contact the union hall 3 months prior to your anticipated retirement pension date to request your application!

NEBF

1) You have worked for a Covered Employer for 300 or more hours in any of the seven (7) calendar years immediately before the month of your 62nd birthday

2) $32.00 per month times pension credits (Fiscal year Jan. 1 thru Dec. 31)

3) Options a) 50% Joint & Survivor ----9.75% reduction---Default b) Lifetime Option c) 75% Joint & Survivor ----ball park around 15% reduction

4) Retirement prior to 62 a) 61 years old ----- 9.25% reduction b) 60 years old ------18.5% reduction

5) Spouse age difference +/- 0.5% addition/reduction per year 6) NEBF will provide you with a Federal tax election form 7) Apply three months prior to retirement date 8) Need to have

a) Birth certificates b) Social Security cards c) All divorce papers d) Marriage certificate

If you do not qualify for #1 --

9) Retirement prior to 65 a) 64 years old ----- 6.67% reduction b) 63 years old ----- 13.33% reduction c) 62 years old ----- 20.00% reduction

10) 65 years old full retirement 11) Please contact the union hall 3 months prior to your anticipated

retirement pension date if you need assistance with your application

Go to nebf and click on Online Benefits to register to receive your

benefit estimate today!

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