Health care costs continue to increase at alarming rates in this country. Health insurance for members and their families is one of the highest concerns of workers. IBEW Local 35 negotiates health care for our members and their families.
IBEW Local 35 has a health care plan that allows our members to provide, for themselves and their families, health coverage with no payroll deduction.
Some features of our plan:
- 100% paid for by employer
- $20 Co-pay for doctors within network
- Low co-pay prescriptions through Sav-Rx Program
- Prescription mail in maintenance drugs (even lower cost)
- Life Insurance
- Accidental death benefits
- Full family coverage
- Davis Vision Coverage and EyeMed Vision Care
- Dental Coverage
ELIGIBILITY FOR BENEFITSAny member employed under the terms of the collective bargaining agreement shall be eligible for the plan benefits after 600 hours of work within covered employment by a signatory contractor during any six consecutive months.
Local 35 members are eligible for medical coverage during temporary periods of unemployment under the Supplemental Insurance provided they remain available for employment and agree to make the required reasonable self payment.
DEATH BENEFITSThe amount of life insurance benefits for an Active Employee is as follows:
Active Member
Spouse
Children |
$20,000
$2,500
$1,000 |
Members may check the Summary Plan Description ‘SPD’ for further plan explanation.
NECA-IBEW Local 35 Pension Fund
We are proud of the retirement benefits that Local 35 has been able to negotiate, guarantee, and provide. As productive and working union craftsmen, we have the means to maintain our dignity and standard of living in our retirement years.
They also receive a retirement benefit through the National Electrical Benefit Fund and the IBEW International Pension Benefit Fund. The following are the current pension rates per credited year for each of the pensions. These are based on retirement at 62 years of age.
Our pension fund benefit is approximately $64 per credited year based on a 1400 hour work year. Additional credits may be earned on any hours worked over 1400 per year.
Certain circumstances, including but not limited to, early retirement, member and spouse’s age, disability or a break-in-service may affect the benefit amount.
Please note that our union pension fund benefit increases periodically. When it comes time for you to retire with dignity, your pension should be even higher.
NECA-IBEW Local 35 Annuity Fund
An Annuity Plan is a program to help you save money. Under this plan, the contractor deposits a specific dollar amount which has been allocated through contract negotiations into an account in your name. You earn interest and pay no taxes until your money is eventually withdrawn from the plan in accordance with Internal Revenue laws.
Your employer contributes directly to the Annuity Plan for each hour you work. The current hourly contribution is $4.35 per hour. Overtime contributions are paid at the applicable rates.
A contribution of $4.35 per hour is approximately $8,632 per year (before interest). This is deposited into your account by the employer. Our self-directed accounts are invested with Prudential and earn interest in accordance with the market.
