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.

Age Requirements
 

Any age

Service and Other Requirements
 
  1. Active Participant (if not, see Inactive Vested Participant Death Benefits); and
  2. 10 years of Total Credited Service (15,000 Hours) including 2 years Credited Future Service (3,000 Hours), or 5 Years of Vesting Service, or attained Normal Retirement Date

See also:
Pro-rata Pension

Basic Benefit
 
  1. 50% of Normal Pension, payable in priority order as follows:
    1. to spouse, if any, for life; then
    2. payment divided equally among dependent children, if any, until last child attains age 21; then
    3. remainder of 120 monthly payments to designated beneficiary (or, if none, the Plan-determined beneficiary)
  2. In lieu of (1), if you are married and eligible for unreduced Early Retirement (or, if under age 55, you meet the requirements of Section 3.2(b)) at death, your surviving spouse will receive the 100% Joint and Survivor benefit calculated on the date of death.  This spouse-only benefit is payable for life; following your spouse's death, the monthly amount will be made in priority order as follows:
    1. payment divided equally among dependent children, if any, until last child attains age 21; then
    2. remainder of 120 monthly payments to designated beneficiary (or, if none, the Plan-determined beneficiary)