# IBEW pensions



## J Corrin

I have a question about the IBEW Pensions. I just accepted a job with a railroad company and I will be joining their union, but was wondering about my IBEW pension. If I quit paying my IBEW dues, what can they do to my pension?? Am I still able to get it when I retire??


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## Mr Rewire

J Corrin said:


> I have a question about the IBEW Pensions. I just accepted a job with a railroad company and I will be joining their union, but was wondering about my IBEW pension. If I quit paying my IBEW dues, what can they do to my pension?? Am I still able to get it when I retire??


 what pension are you talking about are you talking about the NEBF?


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## bobelectric

Rather than ask this site,Call your local and explain why you are leaving and ask about what you got coming.​


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## Loose Neutral

As long as your vested your good.


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## cabletie

J Corrin said:


> If I quit paying my IBEW dues, what can they do to my pension?? Am I still able to get it when I retire??


The nebf (international) pension comes from dues. As long as you are vested you will get so much per credited year you put in. your local pension is paid from the contractor and works the same as above. Stop either one and your credited years stop. At retirement you will get an amount based on the years you put in.


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## Mr Rewire

cabletie said:


> The nebf (international) pension comes from dues. As long as you are vested you will get so much per credited year you put in. your local pension is paid from the contractor and works the same as above. Stop either one and your credited years stop. At retirement you will get an amount based on the years you put in.


 On the local contractor paid pension you should be able to roll it over into a different plan once you withdraw from the union.


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## Loose Neutral

cabletie said:


> The nebf (international) pension comes from dues. As long as you are vested you will get so much per credited year you put in. your local pension is paid from the contractor and works the same as above. Stop either one and your credited years stop. At retirement you will get an amount based on the years you put in.


The NEBF plan and the International plan are separate plans.


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## Loose Neutral

Mr Rewire said:


> On the local contractor paid pension you should be able to roll it over into a different plan once you withdraw from the union.


Not likely.


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## Mr Rewire

Loose Neutral said:


> Not likely.


 I did.I don't see how they could stop it.


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## Loose Neutral

Are you saying you was able to pull your money out of the pension fund? Not the annuity.


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## cabletie

Loose Neutral said:


> The NEBF plan and the International plan are separate plans.


I never said they were the same. They work on the same credited year principal. I believe you can start collecting on the local one at an earlier retirement with penalties and wait until 65 to collect the international, because they are different.


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## Loose Neutral

cabletie said:


> The nebf (international) pension comes from dues. As long as you are vested you will get so much per credited year you put in. your local pension is paid from the contractor and works the same as above. Stop either one and your credited years stop. At retirement you will get an amount based on the years you put in.


You said nebf then in parenthesis you said international. To me that implies the same thing. Anyways Ok you can collect the NEBF and the International at age 62.


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## cabletie

Loose Neutral said:


> You said nebf then in parenthesis you said international. To me that implies the same thing. Anyways Ok you can collect the NEBF and the International at age 62.


 You are right, I did not realize that the local plan was the nebf. I thought it was the international plan. When looking this up I came across this. http://www.ibew.org/members/pensionbenefitfund/Rules and Regulations.pdf

*"Sec. 3. Vesting​*. An “A” member who has completed twenty (20) or more years of “A” membership in continuous good standing and who ceases being engaged in the electrical industry prior to the attainment of age sixty-five (65) shall, if an application is filed and approved after December 31, 2001, obtain a vested right to pension benefits, but not disability pension benefits or death benefits."

Wow I can't belive it takes 20 years.
 ( pg. 5 of 12 )
 "Vested rights are not extended to “A” members who apply for and accept Honorary Withdrawal Card status under Article XXIV, Section 3 of the I.B.E.W. Constitution. Honorary Withdrawal Card members relinquish any claim to vested, early, normal or disability benefits (as well as death benefits or optional spouse’s benefits) from the I.B.E.W. Pension Benefit Fund on the basis of past membership regardless of the number of years’ continuous good standing acquired prior to issuance of the Honorary Withdrawal Card."

 I would definetly talk to someone down there to find out what will hapen to your pension.​


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## nitro71

I don't know exactly how it all works but some of the money should be yours. Whatever your employer has been paying in is your money.


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## Loose Neutral

cabletie said:


> You are right, I did not realize that the local plan was the nebf. I thought it was the international plan. When looking this up I came across this. http://www.ibew.org/members/pensionbenefitfund/Rules and Regulations.pdf
> 
> *"Sec. 3. Vesting​*. An “A” member who has completed twenty (20) or more years of “A” membership in continuous good standing and who ceases being engaged in the electrical industry prior to the attainment of age sixty-five (65) shall, if an application is filed and approved after December 31, 2001, obtain a vested right to pension benefits, but not disability pension benefits or death benefits."
> 
> Wow I can't belive it takes 20 years.
> ( pg. 5 of 12 )
> "Vested rights are not extended to “A” members who apply for and accept Honorary Withdrawal Card status under Article XXIV, Section 3 of the I.B.E.W. Constitution. Honorary Withdrawal Card members relinquish any claim to vested, early, normal or disability benefits (as well as death benefits or optional spouse’s benefits) from the I.B.E.W. Pension Benefit Fund on the basis of past membership regardless of the number of years’ continuous good standing acquired prior to issuance of the Honorary Withdrawal Card."
> 
> I would definetly talk to someone down there to find out what will hapen to your pension.​


It's not. You have your NEBF and International, Which will be available at age 62. Then in addition, depending on your local, you will have a local pension and or an annuity. Hope that helps.


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## Loose Neutral

nitro71 said:


> I don't know exactly how it all works but some of the money should be yours. Whatever your employer has been paying in is your money.


Annuity or 401k money is always 100% yours. Pension rules dictate how your investment in the pension fund is returned.


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## Digger69

*pulling out of the union*

does anyone know if u pull out of the union can u pull your annuity with ya i dont want to do this but have to come up with cash fast so do what i have to do do tosave my car house and feed my kids rt work has to pick up soon so anyone one know anything please help me out in this im an operator out of local 17 and travel were ever i have to so anyone know any operators needed send me a message thanks


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## brucerjones

I am a IBEW member of local 76 currently retired. Drawing my pacific coast pension and want my annuity. 59.5 years of age. What are the rules to obtain.


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## MechanicalDVR

brucerjones said:


> I am a IBEW member of local 76 currently retired. Drawing my pacific coast pension and want my annuity. 59.5 years of age. What are the rules to obtain.


Welcome aboard Bruce. You need to get in touch with your local and make contact with the company that manages your benefits. Then it's just the matter of two forms to fill out and send it. At your age you'll take a good hit on taxes.


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## Shimy

cabletie said:


> You are right, I did not realize that the local plan was the nebf. I thought it was the international plan. When looking this up I came across this. http://www.ibew.org/members/pensionbenefitfund/Rules and Regulations.pdf
> 
> * "Sec. 3. Vesting​* . An “A” member who has completed twenty (20) or more years of “A” membership in continuous good standing and who ceases being engaged in the electrical industry prior to the attainment of age sixty-five (65) shall, if an application is filed and approved after December 31, 2001, obtain a vested right to pension benefits, but not disability pension benefits or death benefits."
> 
> Wow I can't belive it takes 20 years.
> ( pg. 5 of 12 )
> "Vested rights are not extended to “A” members who apply for and accept Honorary Withdrawal Card status under Article XXIV, Section 3 of the I.B.E.W. Constitution. Honorary Withdrawal Card members relinquish any claim to vested, early, normal or disability benefits (as well as death benefits or optional spouse’s benefits) from the I.B.E.W. Pension Benefit Fund on the basis of past membership regardless of the number of years’ continuous good standing acquired prior to issuance of the Honorary Withdrawal Card."
> 
> I would definetly talk to someone down there to find out what will hapen to your pension.​


In order to receive credit for a years seniority towards your pension. What are the requirements? So many hours worked?


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