# Union pension plan



## knowshorts (Jan 9, 2009)

Some of the local locals pull their moneys together. I think that is pretty common. I don't know what kind of safeguards are in place to protect the contributors.


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## Tom45acp (Sep 6, 2011)

Back in the good old days (?) when I started, your employer contributed to a defined benefit pension. You had to work so many years to "vest" your pension & if you quit or moved before that time, you lost any right to collecting money.

Most locals in my area now have a plan styled like a 401k. Your employer contributes directly to your account, you choose what it is invested in and it is your money from the first dollar contributed.


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## Mr Rewire (Jan 15, 2011)

Their is the NEBF and then you may have a local plan. the local i was in had an anuity that your employer paid into based mon hours. They later adopted a self directed plan were you could choose from various mutual funds or stay in the old plan.


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## mikeh32 (Feb 16, 2009)

some have both a 401k,and the annuity fund as well


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## IBEWRockstar (Nov 10, 2011)

I do the 401K through our company because they match 50% and they contribute about $9hr to our pensions, then there's the NEBF.


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## erics37 (May 7, 2009)

I've got the NEBF, and then I've got a local pension plan that my employer contributes to (I think it's regional actually, it's Cascade Pension Trust), and I also do a 401(k). The 401(k) doesn't have any employer matching though.

Through some mix-up with ERTS a few years back, I also had a total of approximately 1 dollar put into the Local 48 pension plan. I never did anything about it, and to date I still receive quarterly earnings reports and such. I decided I'm going to just keep it, and when I retire I'll see what the final amount is. It's gone up and down for a while now but I think it's approaching a value of 2 dollars :laughing:


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## chicken steve (Mar 22, 2011)

i guess we didn't learn much from Enron.....~CS~


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## brian john (Mar 11, 2007)

chicken steve said:


> i guess we didn't learn much from Enron.....~CS~


 
You mean the fact that I almost tripled my investments even in a down economy. EVIL, EVIL America, seems the USSR had a better system?


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## Loose Neutral (Jun 3, 2009)

punter said:


> I was just wondering about the union pension plan that members pay into. Are there two separate massive pension funds, one for Canadian locals and one for American locals, or is each pension fund managed by each individual local itself?


If you are a member of a dues paying local in the States you will get your International Pension and your NEBF portion. Then most locals will have a defined benifit pension plan and some type of annuity or 401k. Most locals manage there own Plans with combined efforts of Labor and Management Trustees with the help of Financial Advisers, Actuaries, Auditors and of course Lawyers. I think you guys up north are probably the same.


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## Loose Neutral (Jun 3, 2009)

brian john said:


> You mean the fact that I almost tripled my investments even in a down economy. EVIL, EVIL America, seems the USSR had a better system?


I know a lot of guys missed out on the 4-6 months in 09, where I recovered my 08 losses and then some and was banging 80% out of those foriegn funds.


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