Defined Benefit Pension Plan Benefit Tabs™

This is a summary of benefits and not a substitute for the Southern California IBEW-NECA Pension Plan Document, and to the extent it differs from the Plan Document, the terms of the Plan Document will govern.

Important Note:
 

Notwithstanding any explanation below, for retirements that are first in pay status on or after April 1, 2017 Early Retirement benefits shall be actuarially reduced from age 65 unless the participant is active and had attained age 56 with at least 44,500 covered hours. This is in accordance with the adoption of Alternative Schedules 1 or 2 under the Second Critical Status Rehabilitation Plan.

Age Requirements
 

Age 55 or over, but before age 65
(If under age 55, see also Pre-55 Retirement)

Service and Other Requirements
 

10 years of Total Credited Service (15,000 Hours) including 2 years Credited Future Service (3,000 Hours)

See also:
Hours for Credited Past Service

Pro-rata Pension

Basic Benefit
 
 

If married:

  1. Automatic 50% Joint and Survivor Pension*^
  2. Single Life Annuity with 60 payments guaranteed
  3. 66-2/3%, 75% or 100% Joint and Survivor Pension*^
  4. Social Security Adjustment Pension [No longer available, effective October 28, 2009]
  5. 50%, 66-2/3%, 75% or 100% Joint and Survivor with Social Security Adjustment Pension* [No longer available, effective October 28, 2009]

    *contingent beneficiary must be spouse
    ^with or without Pop-up Benefit

If unmarried:

  1. Single Life Annuity with 60 payments guaranteed
  2. Social Security Adjustment Pension [No longer available, effective October 28, 2009]

Reduction Factors
All forms of payment except the Single Life Annuity are actuarially reduced.

See also Special 50% Joint and Survivor Pension Option for unmarried Participants with Domestic Partner.

Conditions Which May Result In Loss of Some or All Benefits