Home 9 Pension

You have a defined benefit pension plan, which means that the monthly amount of your benefit when you retire is fixed. Your employer contributes to the Pension Fund for every hour you work in covered employment. When you work enough hours in a year, you earn a pension credit. The amount of pension credits you have when you retire affects the amount of your monthly benefit and the type of pension you’re eligible to receive.

The credit multiplier was increased to $57, and pensioners and beneficiaries in pay status as of November 1, 2022, will receive 3.6% increase to their monthly amount.


You become a participant in the Pension Plan on January 1 or July 1 (whichever is earlier) after you’ve worked at least 300 hours in covered employment in a consecutive 12-month period.

How the Pension Plan works

For every year that you work at least 300 hours in covered employment, you earn pension credit. When you work at least 1,000 hours in covered employment during a calendar year, you earn one year of vesting service.

Earning pension credit

You earn a full pension credit when you work 1,200 hours in covered employment during a calendar year. If you work fewer than 1,200 hours but more than 300 hours, you earn a partial pension credit. If you work fewer than 300 hours but you still earn a year of vesting service, you’ll receive a partial pension credit equal to the number of hours you worked in covered employment divided by 2,000.

Hours Worked in a Calendar Year
Pension Credits Earned
Fewer than 300 hours
See above
1,200 or more


You’re fully vested in your pension once you have five years of vesting service or 10 years of pension credit, that is not interrupted by a Permanent Break. Once vested, you have a non-forfeitable right to your pension benefit when you retire.

Breaks in covered employment

If you aren’t vested and you don’t work at least 300 hours in covered employment during a calendar year, you incur a one-year break in covered employment. Unless you’re vested, you temporarily lose your prior pension credits and vesting service when you incur a one-year break in covered employment.

You incur a permanent break in covered employment if you have at least five consecutive one-year breaks and your number of consecutive one-year breaks in service exceeds the number of years of your vesting service. Incurring a permanent break in service means that you permanently lose your prior pension credit and vesting service.

At any time before you incur a Permanent Break, you can “cure” or eliminate your one-year breaks in covered employment with just one calendar year in which you have 300 or more hours of service.

Separation from covered employment

Pension benefits under this Plan are subject to the rule for Separation from Covered Employment.  You will have a Separation from Covered Employment if you have three (3) consecutive One Year Breaks in Covered Employment (see description above). You will be considered to be “separated” as of the January 1 of the Calendar Year at the beginning of that three-year period.

If you have a Separation from Covered Employment, your benefit amount is “frozen” at the rate in effect on the January 1 of your Separation.  If you later return to work in Covered Employment and earn additional Pension Credit, your benefit for those additional credits will be figured based on the rate in effect at the time of your actual retirement or a later Separation, if any.

Refer to the Pension Plan Summary Plan Description to for a list of pension credit multiplier rates and the periods they were in effect.

Types of pensions

Regular pension
  • Age requirement: 62
  • Service requirement: 10 years of pension credit
  • Amount: $57 for each pension credit earned, to a maximum of 40 pension credits
Service retirement
  • Age requirement: 55
  • Service requirement: 35 pension credits
  • Amount: Regular pension accrued
Early retirement
  • Age requirement: 55
  • Service requirement: 10 years of pension credit
  • Amount: Regular pension accrued, reduced by 3% for each year of age less than 62
Disability pension
  • Age requirement: None
  • Service requirement: 5 years of pension credit
  • Amount: Regular pension accrued
These are the most common pension types. However, other types of pensions exist. If you have questions about a pension you may be entitled to after leaving the electrical industry before retirement, or through prior employment with another IBEW local union, contact the Fund Office.

Applying for your pension

You must file a Pension Application Form with the Administrative Office and make a written election of your benefit option on the election form provided by the Plan at least 30 days before the effective date of your pension.

Payment options

The amount of monthly pension payment with each type will vary according to a number of factors, including when your pension credits were earned, when you apply for a pension, the options you select, etc. The monthly pension amounts given in the above table are for single-life pensions. This means the monthly benefit amount is based on payments of benefits only for your lifetime (with a minimum of 36 monthly payments).

Please note that if you are married, your benefit will be paid as a husband-and-wife pension unless you and your spouse reject this option. The monthly benefit amount under a husband-and-wife pension is reduced, because it provides that after your death, your surviving spouse will continue to receive monthly benefits for the rest of his or her lifetime.

Refer to the Plan Rules for full details on the types of pension and forms of payment available under the Plan.