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About Us - Local 1253
Mission
Statement / Code of Excellence |
Officers/Staff
| Benefits of Membership
Plus 5 program |
Our History
Benefits of Union Membership
In the union view, being an
electrician is a job for life. We recognize that as a worker gets
older, he becomes more vulnerable to the competitive pressures of
the marketplace for construction labor. In the union system, our
contractors employ workers until they retire instead of disposing of
them during middle age. And when retirement age is reached, we need
more than just Social Security, we have the I.B.E.W. Pension,
N.E.B.F. and our Local Union Pension.
A good wage is important to us,
but so is planning for the future. So we quietly save a part of the
negotiated package that doesn’t appear on the check and isn’t taxed,
invest these savings wisely, and through the magic of compound
interest, we likely will be millionaires when we retire. Our
employer-paid pensions will allow us to retire with dignity.
Want to make an
extra one Million ($1,0000,000.00) dollars?!
How do your Wages &
Benefits compare with Union? click a topic below:
Below is a Wages example:
(as of 05/01/08)
|
Union |
Your Current Wages |
The
Difference |
|
Hourly wage |
Hourly wage |
|
|
$25.32 |
$17.00 |
$8.32 per hour |
| |
|
|
| 40 hours before taxes: |
|
|
|
$1012.80 |
$680.00 |
$332.00 per week |
| |
|
|
| 40 hours for 50
weeks: |
|
|
|
$50,604.00 |
$34,000.00 |
$16,604.80 per year |
| |
|
|
|
Difference over 30 years + |
add in retirement and
health benefits value |
= a
REAL
Difference! |
| |
|
|
|
$498,144.00 + |
*$602,496.00 |
=
$1,100,640.00 |
*UNION
Contract Contributions beyond basic wage
(per 40 hr wk):
Retirement: $5.01 /per
hr = $200.40
Health Care: $5.47
/per hr = $218.80 |
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Retirement Benefits:
| National Electrical Benefit
Fund (NEBF): |
|
Your
Current Retirement |
| $32.00 per year x 30 years
service |
= $960.00 |
Average Soc. Sec. Benefit =
$960.00 |
| IBEW Pension: |
|
|
| $4.50 per year x 30 years
service |
= $135.00 |
|
| Average
Soc. Sec. Benefit |
= $960.00 |
|
|
Total Monthly Pension |
= $2,055.00 |
PLUS! |
| Local
No. 1253 Annuity: |
|
|
| $5.01 x 2,000 hours worked @ 30
years service |
|
$300,600.00 + INTEREST! |
| I.B.E.W. |
|
Full benefits at age 65 |
|
Minimum 20 years to be vested regular or disability |
|
$4.50 per month for years 1998 forward |
|
Early benefits start @ 62 to 64 |
|
Reduced 6 2/3
% per year (same as social security) |
| If you retire at age 64 your benefit is
reduced 6 % |
| If you retire at age 63 your benefit is
reduced 13 1/3 % |
| If you retire at age 62 your benefit is
reduced 20 % |
| |
| N.E.B.F. |
|
The rate is $32.00 per month per credited year presently. |
| 5 years to be vested 100 % |
| If you work steady up until age 62 you will
receive full benefits |
| 60 – reduced 18-½ % |
| 61 – reduced 9-¼ % |
| 62 - Full benefits |
| The rate is $32.00 per month per credited
year presently. |
| |
| Local
Pension |
|
Part of the negotiated package is the Employer makes payment
into the Local Pension Plan. |
|
This money is in each individual members own personal
account, this money |
|
Accumulates on a hourly bases, this money is not taxed at
time of deposit |
|
$5.01 per hour
goes directly into your account !! |
| |
|
Can you or
your family afford to suffer these losses?! |
| |
|
For more information contact
Organizer:
Calvin
Murphy at
207-623-9158 ext. 16
E-mail Calvin at:
Calvin@IBEW1253.org
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