Summary Plan Description
- How do I know if I qualify for the Prefunding Retiree Credit Program?
You must currently be eligible for coverage through the NECA-IBEW Welfare Trust as an Inside Wiremen.
You must have a minimum of 7500 contribution hours in the past 10 years and a minimum of 10 service credits.
You must be retired.
- How can I find out how many service credits I have?
You can send a written request for a Prefunding Credit calculation to:
ECI Prefunding Credit Program
11001 W Plank Court, Suite 120
Wauwatosa WI 53226
- What is the maximum amount I can get reimbursed?
As of January 1, 2013 each credit is worth $12, with a maximum amount of 30 credits for a total reimbursement maximum of $360.00
- Is there a reduction if I retire before age 62?
Yes, your total credit will be reduced by a percentage based on your age at the time of your retirement.
- How do I receive this reimbursement?
The Program has mandatory direct deposit of your credit. A direct deposit authorization form is sent with your packet.
- How long can I collect the reimbursement?
The reimbursement is good as long as you are paying for coverage.
- What if I pass away, can my spouse collect the reimbursement?
Your surviving spouse is eligible to collect the reimbursement, subject to continuing to pay for other coverage.
- Do I have to take the NECA-IBEW Welfare Trust (Decatur Plan) retiree coverage in order to collect the reimbursement?
You do not have to take the Decatur Plan coverage, however you cannot have a lapse in coverage prior to collecting the reimbursement. If you choose to purchase your own coverage that coverage must start as of the date you lose active coverage with the Decatur Plan.