IBEW Unit 1 Pension Plan
Members of Unit 1 (including apprentices above level 4) participate in the IBEW Local 300 Unit 1 Pension Plan.
The Pension Plan is maintained by a joint board of trustees consisting of 3 Union Trustees and 2 Employer Trustees. The board is governed by a trust document established and maintained in accordance with the Collective Bargaining Agreement.
The Trustees of the IBEW Local 300 Pension Plan are pleased to announce that effective September 1, 2018 your Pension fund investment accounts will be changed from Mass Mutual to Charles Schwab. After a lengthy analysis of fund performance, allocation choices and overall cost, the Trustees decided that the Local 300 members would greatly benefit from this change.
The Trustees have also engaged financial advisors for the fund from National Financial Partners (NFP). NFP is available to participates with one-on-one financial and retirement consulting and will provide valuable investment insight and guidance. The local NFP office is located in South Burlington and can be reached at 802-865-5000.
National Electrical Benefit Fund (NEBF)
Employers signatory to the inside construction CBA pay 3% of gross wages for all employees into the NEBF.
Pension Benefit Fund (PBF)
All "A" Members pay monthly dues; a portion of those monthly dues go to the Pension Benefit Fund.
Effective 1/1/19: PBF is $19.00 of monthly dues.
Effecitve 1/1/20: PBF is $19.00 of monthly dues