At the 37th IBEW Convention held in September 2006, the delegates approved an increase to PBF pension benefits providing a $4.50 credit per year of service. The most recent changes to the PBF death benefits were approved at the 2001 Convention and became effective January 1, 2002, thereby increasing the death benefit payment to $6,250 and providing for an accidental death benefit of $12,500. At that time, all EWBA beneficiary designations became null and void, and all death benefits after this time have been paid by the PBF. At the 1991 Convention, the EWBA and PBF were amalgamated into one fund, and as a result, death and pension benefits were significantly improved. These two plans functioned separately for many years and to improve benefits a decision was approved to combine the plans.
The delegates to the 1927 IBEW Convention authorized the creation of a pension fund, and in 1928, the Officers of the IBEW introduced the IBEW Pension Benefit Fund (PBF) to provide much-needed and previously unattainable pension benefits for all participating members. In 1922, the IBEW created the Electrical Workers Benefit Association (EWBA) to ensure sufficient resources to provide a dignified interment when an IBEW member passed away. The IBEW has a long history of designing and providing benefits to help its members.
The IBEW Pension and Reciprocity Department reports and provides assistance to the International Officers on departmental areas of responsibility: pension and death claim payments, construction industry reciprocity and membership records. O'Learyĭirect Deposit: Do you need to change/update your banking information?ĭirect deposit forms can be obtained by contacting BNY Mellon bank, the payment-processing agent for the IBEW Pension Benefit Fund, at the phone numbers listed below.Ībout the Pension and Reciprocity Department IBEW Pension Benefit Fund (PBF) Director Ryan T.
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