# Ibew retirement



## Southeast Power

Birdonawire said:


> How does retirement work in the union? Is it really good. Like will I be all set when it comes to income when I retire


Did you get a DVD in the mail recently??


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## Birdonawire

jrannis said:


> Did you get a DVD in the mail recently??


Not yet but I should be getting one?


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## crazymurph

The retirement is based on hours worked. You need X amount of hours per year to qualify for that year. Hours worked greater than X can accumulate, so you can get more than 1 year credit in a calender year. The local union has an amount that is paid per month for years credit. So if the amount is Y, you multiply X times Y, and that is how much you receive per month after retirement. So if you have 40 credit years and the local pays $5.00 per, you would get $2000 per month. The variables X and Y are different in each local union.


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## Loose Neutral

crazymurph said:


> The retirement is based on hours worked. You need X amount of hours per year to qualify for that year. Hours worked greater than X can accumulate, so you can get more than 1 year credit in a calender year. The local union has an amount that is paid per month for years credit. So if the amount is Y, you multiply X times Y, and that is how much you receive per month after retirement. So if you have 40 credit years and the local pays $5.00 per, you would get $2000 per month. The variables X and Y are different in each local union.


Better check your math on that one. Looks like $200 a month and that sucks. Basically all correct though. You should get 3 pensions and possibly an annuity. EBF pension, international and your local unions.


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## miller_elex

Birdonawire said:


> How does retirement work in the union? Is it really good. Like will I be all set when it comes to income when I retire


Why all these questions?? You got to be a successful craftsman before your future will be taken care of.

You should be asking how to be the best you can be.


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## brian john

miller_elex said:


> Why all these questions?? You got to be a successful craftsman before your future will be taken care of.
> 
> You should be asking how to be the best you can be.


All this hard work should count for something, HOPEFULLY we all get the chance.


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## Birdonawire

Miller the reason why inask all the questions all the questions is because I think for tomorrow not today. Who wants to be 70 and saying I should have or shouldn't have.


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## brian john

Birdonawire said:


> Miller the reason why inask all the questions all the questions is because I think for tomorrow not today. Who wants to be 70 and saying I should have or shouldn't have.


Or have to be on the public dole.


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## Southeast Power

crazymurph said:


> The retirement is based on hours worked. You need X amount of hours per year to qualify for that year. Hours worked greater than X can accumulate, so you can get more than 1 year credit in a calender year. The local union has an amount that is paid per month for years credit. So if the amount is Y, you multiply X times Y, and that is how much you receive per month after retirement. So if you have 40 credit years and the local pays $5.00 per, you would get $2000 per month. The variables X and Y are different in each local union.


Not every local is the same. Some have annuitys as well as pensions. Some here were retiring at around $55 per year but I think that was just one of the three pensions. They each pay different amounts.


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## crazymurph

jrannis said:


> Not every local is the same. Some have annuitys as well as pensions. Some here were retiring at around $55 per year but I think that was just one of the three pensions. They each pay different amounts.


Yes, my math was wrong in my post. If you use the number that jrannis gave you would have $55 per credit year X 40 credit years = $2200 per month. The other 2 retirements are smaller but based on the same kind of formula, so that would bring you closer to 3K per month. If your local has an annuity plan that would also add to your total benefits. I have 30 years in and have close to 300K in my annuity.


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## Joshoco1

Can a retired Union member receiving Union retirement return to work as a non-union electrician?


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## HertzHound

Old thread alert!! 

Not that I know off.

You can teach, inspect, or work for a signatory contractor up to 1,000 hours a year if all the non-retired electricians are working or turning down work. You can also be management. Like part time project superintendent


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## Joshoco1

That's what I had thought. I work on a government location- not as an electrician. A new hire - IBEW retiree - just came on as an electrician. I may need to contact the local hall. Thank you for responding.


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## HertzHound

I retract that. He can work all the hours he wants with whomever.


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## Joshoco1

I disagree. As a Union brother I feel he is undermining the work that Union companies could come in and perform. He is taking his Union acquired knowledge and using it for non-Union employment. We must stay strong even after receiving our due retirements.


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## radio208

Out here in CA, it's a no-no to work non-union after retirement and getting a pension. Seen minutes in the Journal about members being brought up for charges.


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## wiz1997

The pension from a union sounds great, unless the administration of the local's pension plan makes "bad investments" and you will only be getting about 10% of what you should have gotten.


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## brian john

Joshoco1 said:


> I disagree. As a Union brother I feel he is undermining the work that Union companies could come in and perform. *He is taking his Union acquired knowledge and using it for non-Union employment. *We must stay strong even after receiving our due retirements.


The union does not own your knowledge and there is nothing special about the union knowledge, an open shop man can acquire the same knowledgeas he works in his profession.

BUT most unions have rules against working in the same trade after retirement or they limit the hours. 

I am considering working part-time for a data center in facility management.


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## TGGT

Joshoco1 said:


> I disagree. As a Union brother I feel he is undermining the work that Union companies could come in and perform. He is taking his Union acquired knowledge and using it for non-Union employment. We must stay strong even after receiving our due retirements.


Maybe the IBEW should've done a better job representing if they don't want their members looking for work after retirement. 

Sent from my SM-G930T using Tapatalk


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