Pension Plan
Forms/Notices
Frequently Asked Questions
You may request an estimate of your pension benefits by either sending in a written request to the Plan Office or sending a request via email under “Contact Us” on the website. Your written request should specify on what age the estimate should be based. Please include the last four digits of your social security number. Please be advised that estimates are based on current Pension benefit credits.
You may also obtain an estimate by accessing or creating an account on MemberXG. Go to the PENSION PROJECTIONS tab and fill in the options on which you wish to receive an estimate. Please be advised the benefits shown are based on current information on file and are not a guarantee of benefit amounts. This projection does not include any Qualified Domestic Relations Orders.
You must work 750 hours in the plan year (June – May) to earn a vesting credit.
Prior to June 1, 2018. Plan Years prior to June 1, 2018, your monthly pension benefit is payable equal to the years of Benefit Credit you earn multiplied by the benefit rates in effect for the relevant years. You earn a year of Benefit Credit based upon the number of Hours of Service you accumulate during a Plan Year (June – May). You earn a full year of Benefit Credit after completing 1,500 Hours of Service. No additional Benefit Credit was earned for Hours of Service in excess of 1,500.
On and After June 1, 2018. The benefit formula for employment on or after June 1, 2018 was converted to a “percent of contributions” formula whereby each Plan Year June 1, 2018 through May 31, 2025 you earn a benefit equal to 0.8% of the contributions paid to the Plan on your behalf provided you work 375 hours in the Plan Year (June-May). For each Plan Year June 1, 2025 through May 31, 2027 you earn a benefit equal to 1.0% of the contributions paid to the Plan on your behalf provided you work 375 hours in the Plan Year (June-May).
Effective June 1, 2027, the percent of contribution formula will return to 0.8%
Your total monthly pension benefit equals the sum of (1) the benefit you earned under the Plan’s formula as in effect prior to June 1, 2018, PLUS (2) the benefit you earn under the percent of contributions formula for contributions paid on and after June 1, 2018.
If you are vested you have a nonforfeitable right to future benefits if you leave the union.
The normal retirement age is 65.
You may elect to begin receiving an Early Pension following the month in which you attain age 55 and terminate employment.
If your pension begins at ages 55 through 59, your pension benefit will be reduced by 3% per year. Pensions that begin at age 60 are reduced by 2% and pensions that begin at age 61 are reduced by 1%.
You are eligible for an unreduced pension at or after age 62.
To obtain a pension application for the ECI Pension Plan, contact the Plan office.
Below is a list of documents that may be requested:
- Proof of age (a list will be provided of acceptable documents
- Proof of spouse’s age
- Proof of marriage
- Certified copy of Divorce Decree and Marital Settlement Agreement
- Certified Qualified Domestic Relations Order (a/k/a QDRO)
- Voided check or letter from your financial institution
It is recommended that you apply 3 months in advance. Please be advised that your first check will be processed upon receipt of your final contribution.
You should file your ECI Pension Plan application at the Plan office in advance of the first month you expect your pension benefits to begin. You are urged to file as soon as you decide on your intended Retirement date. Early filing will avoid delay in the processing of your application and payment of benefits.
Hours worked in the current month are reported in the following month, i.e October hours are received in November. All reported hours are used to determine the monthly benefit payment.
No, the ECI Plan office only administers the ECI Pension Plan. You should contact the Local 494 union for assistance with the NEBF and the IBEW Pension Plans.
If, after you retire and begin receiving benefits, you work in employment prohibited by the Plan, you lose your pension for the particular months you work. When you retire again, you must re-apply for pension benefits.
There are different prohibited employment rules depending on whether your pension begins before or after December 31, 1997. Also, different rules apply before and after age 65. The change adopted by the Trustees relates to the definition of prohibited employment prior to age 65. The following describes the change:
Prior Rule: Prior to this change, before age 65, prohibited employment included employment or self-employment in work regularly performed by electrical workers “or by any building trades craftsman.”
New Rule: As amended by the Trustees, prohibited employment prior to age 65 now means, in general, employment or self-employment in work regularly performed by electrical workers. Therefore, work as a “building trades craftsman” (other than as an electrical worker) is no longer considered prohibited employment.
Prohibited employment between ages 65 and 70 1/2 is if you are employed or self-employed and work more than 40 hours per month in work regularly performed by electrical workers or any building trades craftsman.
After age 70 1/2 you can work anywhere and still receive your pension.
There are benefits for the surviving spouse of an Employee. If there is no surviving spouse, benefits are payable to surviving children who are less than 19 years of age.
For details regarding eligibility for survivor benefits and how survivor benefits are calculated, please see page 23 in the ECI Pension Plan Summary Plan Description.
Pension Benefit Formula Example (based on Milwaukee Inside Wireman CBA)
MILWAUKEE INSIDE WIREMAN
June 1, 1992 – May 31, 1995 = 3 years at $66 = $198.00 per month PLUS
June 1, 1995 – May 31, 2018 = 23 years at $92 = $2,116.00 per month PLUS
June 1, 2018 – May 31, 2023 = 5 years ($6.70 per hour x 1,800 hours x .008) = $482.40 per month PLUS
June 1, 2023 – May 31, 2025 = 2 years ($6.80 per hour x 1,800 hours x .008) = $195.84 per month PLUS
June 1, 2025 – May 31, 2026 = 1 years (6.80 per hour x 1,800 hours x .01) = $122.40 per month PLUS
June 1, 2026 – May 31, 2027 = 1 year ($6.99 per hour x 1,800 hours x .01) = $125.82 per month
Total benefit = $3,240.46