|Summary of Benefits|
SUMMARY OF BENEFITS
Health & Welfare Plan
The Plan provides coverage for participants and their dependants through pre-tax employer contributions. For each Health Care dollar earned, the full dollar can be used to provide health care coverage. Compare this to having about $0.72 of each dollar earned that can be used to purchase health care coverage if done after paying taxes.
All Pension Plan contributions are made pre-tax (except I. O. Pension). For each Pension dollar earned, the full dollar can be used to provide a pension benefit. Compare this to having about $0.72 of each dollar earned that can be used to purchase a pension plan if done after paying taxes.
International Union Pensions
A Defined Benefit Pension paid for by the member’s basic dues contribution. It provides a monthly payment throughout retirement years. (Basic Dues also provides $6,250 Death Benefit. Doubled if accidental death.)
A Defined Benefit Pension paid for by an employer contribution of 3% of the gross payroll. It provides a monthly payment throughout the retirement years.
Local Union Pension
The Defined Benefit Pension Plan
This plan is paid for by an employer tax deferred contribution. Members decide how much of the total wage package is allocated towards this pension plan contribution. It provides a monthly payment throughout the retirement years.
The Defined Contribution Pension Plan (Money Purchase Plan)
The plan is a tax deferred savings account – similar to an IRA. The plan is paid for by a tax deferred
There are several options as to how this lump sum can be disbursed.
An extensive list of Journeyman Continuing Education classes is available at the JATC Training Center or look under the “Member” tab on the home page of this site. These classes are offered at no cost. Students purchase their own books. All classes qualify for CA State Certification CEU credits. The National Electrical Contractors Association (NECA) offers many classes geared towards developing management skills.
No Hassle Job Referral System
If a Union Electrician becomes unemployed, the member can choose a new job from the Employer job openings which are filled through the daily Union job referral procedure. Members avoid the hassle of looking for a job at multiple locations or agencies. All Union jobs are paid at the same wage rate and benefit package avoiding the fluctuation in pay commonly found by workers who change employers outside the Union electrical industry.
Union Plus Benefits
Access to Union Plus Benefit Programs which includes advantages for credit, mortgage, insurance, provides educational services, rental and purchase discounts, auto buying services, etc.
See Union Plus website at www.unionplus.org
SUMMARY OF BENEFITS (2) (1).pdf