Pension Plan (the Pension Trust Fund for the Electrical Industry)

The Pension Plan is designed to help you better prepare for your future financial security once you stop working. Employer contributions and earnings on investments (if any) fund the Plan. You are not required or permitted to contribute to the Plan.

Plan Overview

Below are the Pension Plan highlights. Complete details are available in the Summary Plan Description.

You’re in right away. You are a participant in the Plan after you complete one hour of service in covered employment.

These factors determine your pension amount:

  • The type of pension applied for
  • Your hourly pay rate*
  • Your employer’s contribution rate at the time of your retirement
  • Your Pension Credits (years of service)
  • Your age and the age of your spouse, in the case of a Husband and Wife Pension

*The unit credit applicable to retirements after June 1, 2016 for a participant whose contractual rate of pay is at least the “A” rate of pay and whose employer contributes at least 27.61% is $85 per month for each Pension Credit. Here's an example calculation.

Participants whose contractual rate of pay is less than the “A” rate of pay or whose employers contribute more than 8.5% but less than 27.61% will receive a unit benefit amount based on a formula. Here's an example calculation.

Participants who work for employers who contribute 8.5% will receive a benefit calculated on the basis of $8.50 per month for each Pension Credit.

Pension Credits are used to determine the amount of your benefit and the type of benefit you’re eligible for. The number of Pension Credits you have is generally based on your years of service.

You are fully vested after you have completed five years of service. However, if you ended work in covered employment before October 1, 1999, you needed 10 years of service to become fully vested. Being vested means you have earned an irrevocable right to your benefit and it cannot be cancelled or taken away.

There are five pension types available. Each has its own eligibility requirements and level of benefits:

  • Normal
  • Standard
  • Early Retirement Standard
  • Vested
  • Disability

How your pension is paid depends on your marital status at retirement:

  • If you’re married, your pension benefit will be paid as a Joint and Survivor Pension unless you and your spouse choose a Lifetime Annuity.
  • If you’re single, your pension benefit will be paid as a Single Lifetime Annuity and will terminate upon your death.

If you'd like more information about the Joint and Survivor Pension option, you can review our helpful summary or your Summary Plan Description.

Start collecting. You must begin receiving your pension by April 1 of the calendar year following the year you reach age 70½.

Plan Information

Plan Name: Pension Trust Fund of the Pension Hospitalization Benefit Plan of the Electrical Industry

Plan Identification Number: 13-6123601

Plan Number: 001

Plan Year: October 1 through September 30

Type of Plan: This is a Defined Benefit Plan. Participants receive a definite amount per month for each Pension Credit.

Plan Administrator: Joint Industry Board of the Electrical Industry

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Frequently Asked Questions

Are there any special rules for applying for a Disability Pension?

Yes! It is very important that participants who are disabled read and follow these rules carefully!

If you are collecting Workers' Compensation benefits, you must apply for a Disability Pension from the Pension Plan no later than two years after the effective date of the first Workers' Compensation payment you receive. If you are not receiving Workers' Compensation payments, but are totally disabled and not employed by a contributing employer immediately prior to the application for a Disability Pension, you must apply to the Pension Plan within two years after the initial date of disability.

You should not wait until you have received your total and permanent disability award from Social Security to file your application with the Pension Department. Receipt of the Social Security award may take longer than two years and if you have not applied for the Disability Pension within the two years stated above, you will no longer be eligible for a Disability Pension.

If your pension application is filed more than two years after the effective date of your first Workers' Compensation payment or the initial date of your disability if you are not receiving Workers' Compensation benefits, you will not be eligible to apply for a Disability Pension.

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