Learn About:

Pension Plan (the Pension Trust Fund for the Electrical Industry)

The Pension Plan is designed to help you better prepare for your future financial security once you stop working. Employer contributions and earnings on investments (if any) fund the Plan. You are not required or permitted to contribute to the Plan.

Plan Highlights

Below are the Pension Plan highlights. Complete details are available in the Summary Plan Description (PDF, 305K).

Eligibility and Participation

You’re in right away. You are a participant in the Plan after you complete one hour of service in covered employment.

Your Benefit Amount

These factors determine your pension amount:

  • The type of pension applied for
  • Your hourly pay rate*
  • Your employer’s contribution rate at the time of your retirement
  • Your Pension Credits (years of service)
  • Your age and the age of your spouse, in the case of a Husband and Wife Pension

*The unit credit applicable to retirements after June 1, 2016 for a participant whose contractual rate of pay is at least the “A” rate of pay and whose employer contributes at least 27.61% is $85 per month for each Pension Credit. (Click here for an example [PDF, 10K].)

Participants whose contractual rate of pay is less than the “A” rate of pay or whose employers contribute more than 8.5% but less than 27.61% will receive a unit benefit amount based on a formula. (Click here for an example [PDF, 18K].)

Participants who work for employers who contribute 8.5% will receive a benefit calculated on the basis of $8.50 per month for each Pension Credit.

Pension Credits

Pension Credits are used to determine the amount of your benefit and the type of benefit you’re eligible for. The number of Pension Credits you have is generally based on your years of service.

Vesting Service

You are fully vested after you have completed five years of service. However, if you ended work in covered employment before October 1, 1999, you needed 10 years of service to become fully vested. Being vested means you have earned an irrevocable right to your benefit and it cannot be cancelled or taken away.

Types of Pensions

There are five pension types available. Each has its own eligibility requirements and level of benefits:

  • Normal
  • Standard
  • Early Retirement Standard
  • Vested
  • Disability(Click here) for important information about disability Pensions!)

Click here for more information on the five types of pensions.

Forms of Payment

How your pension is paid depends on your marital status at retirement:

  • If you’re married, your pension benefit will be paid as a Husband and Wife pension unless you and your spouse choose a Lifetime Annuity.
  • If you’re single, your pension benefit will be paid as a Single Lifetime Annuity and will terminate upon your death.

Click here for details on the Joint and Survivor Payment Option.

Required Distributions

Start collecting. You must begin receiving your pension by
April 1 of the calendar year following the year you reach age 70½.

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Plan Information

Plan Name

Pension Trust Fund of the Pension Hospitalization Benefit Plan of the Electrical Industry

Plan Identification Number


Plan Number


Plan Year

October 1 through September 30

Type of Plan

This is a Defined Benefit Plan. Participants receive a definite amount per month for each Pension Credit.

Plan Administrator

Joint Industry Board of the Electrical Industry

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