The National Electrical Benefit Fund (NEBF) has been in existence since September 3, 1946. The normal retirement age is 65 years old. New User? Eligible If you have any questions about the NEBF, you should contact the NEBF office. You are considered vested when you have accumulated five (5) vesting service credits. Considers the effects of lump sum or monthly payouts, single-life or joint and survivor payouts, or working longer, on total amount., NPPC: Protecting defined benefit pension plans for public employees, National Public Pension Coalition Retweeted. We recommend our users to use the following supported web browsers and versions: If you are having trouble, please contact us at 301-556-4300 X 557 between the hours of 8:00 am and 5:00 pm EST, Monday through Friday or email us at Download and print plan-related forms and reports. and related benefits to employees in the electrical industry. :�"XN1�F*�:J+�A�V�dn��TAq. Our site uses a 256-bit encrypted Symantec secure site pro (with Extended Validation) SSL certificate. Please note that you can also register for the Online Benefits Portal to easily and securely change your address, request a benefit estimate, retrieve your 1099, or ask a question online. Browsers other than those present in the list of recommended browsers may have compatibility issues with the Online Benefits Portal and we recommend users to switch to a browser in the list below if they are using one that is not present here. Copyright © 2020. DISCLAIMER: This calculator is intended to assist you in determining your reportable earnings cap.This calculator is made available as a self-help tool with results based only upon information provided by the user. Reporting for bargaining unit employees is very simple. This website is designed to provide educational information on the National Electrical Benefit Fund (NEBF). by two well-established companies: Associated Third Party Administrators For hours to count toward the 1,000 hour requirement, you must have a Good Year. The National Electrical Annuity Plan (NEAP) was established on December 11, 1973. Yes, you may retire anytime on or between the ages of 55 through 59 years old at an actuarially reduced pension, provided you are vested. In the U.S., Social Security was designed to replace approximately 40% of a person's working income. The NEBF contribution amount is 3% of the employee’s gross labor payroll. online benefits administration and communication. May I retire before age 65? Find answers to frequently asked questions. Free calculator to help optimize pension payout or planning. Pension Credits – Pension Credits determine your benefit amount. This website cannot cover all of the details of the Plan; it is an overview. Social Security is a social insurance program run by the government to provide protection against poverty, old age, and disability. endobj If you were previously registered to receive your 1099-R electronically but do not have an Online Benefits Portal account, you will need to click LOG IN and use the email address you previously used to access your 1099-R. There are two types of Retirement Benefits: Normal Retirement Benefit and Early Retirement Benefit. Therefore any result you receive from this calculator is not guaranteed but rather is an estimate of the reportable earnings cap as it applies to your particular circumstances., Learn why defined benefit pensions are critical to retirement security with this pension primer from @ProtectPensions., In today’s blog post, we reflect on what NPPC has been able to accomplish in the last 13 years. If you are already registered with the portal, you can use your current username and password credentials; there will be an additional menu tab for your 1099-R once you log in. Final average salary varies a little bit more from pension system to pension system. People often wonder though, how are those monthly pension benefits calculated? Our staff will still be available to assist you by phone and email Monday through Friday from 8:00am to 5:00pm EST. The Trustees of the National Electrical Benefit Fund (NEBF) and �H��+�X���i�G��oG Forgot Email Address? and: The National Electrical Benefit Fund (NEBF) has been in existence A Good Year is a year in which you work 300 or more hours in Covered Employment. Reporting for bargaining unit employees is very simple. What is normal retirement age? A: You are Vested, and; You are age 65 or older, and; You are retired from the electrical industry. As such, it is important to understand what it does and how it works. %���� <>>> Retirement Benefits are available to eligible Participants who have retired from the electrical industry. Stay up-to-date with the latest announcements regarding the In some places it is four or five years; rarely is it longer than that.