The National Electrical Benefit Funds

The National Electrical Benefit Funds consists of three separate and distinct pension plans. To learn more about each of these plans, please read the descriptions below.

The National Electrical Benefit Fund

The National Electrical Benefit Fund (NEBF) is a Taft-Hartley, multi-employer, defined benefit pension plan that provides retirement and related benefits to employees in the electrical industry. Participants accumulate credit in NEBF based upon their years of covered employment. Qualifications for benefits and the amount of those benefits are based upon a participant’s years of services with covered employers, age at retirement, type of benefit selected and the pension rate at the time of retirement. For more information on NEBF, click NEBF.

The National Electrical Annuity Plan

The National Electrical Annuity Plan (NEAP) is a defined contribution plan that provides retirement and related benefits to employees in the electrical industry.  Participants are assigned an individual account.  The balance of a participant’s individual account is the total of contributions received and adjustments due to NEAP investment performance.  A participant’s benefit amount is based upon the balance in their individual account at the time their application is approved. For more information on NEAP, click NEAP.

The National Electrical 401(k) Plan

The National Electrical 401(k) Plan (NEFP) is the newest pension plan.  NEFP is a 401(k) plan which is a tax-qualified deferred compensation plan where an individual can elect to have an employer defer a portion of their wages and have them forwarded to NEFP on a pre-tax basis. For more information on NEFP, click NEFP.