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Hello Tim,
Please click on the links below for the updated allocation for the Principal and Residential Collective Bargaining Agreements with Local 134 IBEW regarding the Annuity / NEIB allocation effective December 30, 2024.
The updates are a “reallocation” only, as $.75 is being deducted from Pension Plan #5 and $.75 is being added to the National Electrical Individual Benefit (NEIB), the total package number in the CBAs remain the same.
The NEIB is a new pension benefit feature that is a part of the National Electrical Benefit Fund (NEBF). As the NEIB is a subpart of NEBF the NEIB contribution will be sent to the Electrical Contractors’ Association (ECA) the same as the NEBF contribution (do not send the NEIB contribution to EIT). The exact details on the submission of the NEIB is still being worked out by NEBF, please look for complete instructions on the submission in the near future.
This reallocation takes effect December 30, 2024, as such the submissions will not be made until February 17, 2025, so we have a bit of time for NEBF to get us the final details.
In the meantime, if you have concerns, please contact the ECA office at 708-531-0022.
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