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FAQ |
- Q. I am thinking about retiring, what do I need to do?
A. If you are thinking about retiring, the following is a checklist that should be
completed prior to your retirement date:
- Three (3) months prior to your anticipated retirement date, stop by the NECA Local #145 IBEW Fund Office or contact
Candace at 309/764-8080 extension 143 or
candacewise@rjleellp.com to request an Intent to Retire Letter, which informs us of your retirement date.
- Using this retirement date, the Fund Office will compute a preliminary calculation using your hours and pension credits to date. The current benefit
for members working under the Inside
agreement is $107.00 per pension credit for retirements age 61 or later, although your actual benefit depends on your personal work record.
The current benefit for members working
under the Communication or the
Residential agreement is $41.00 per
pension credit for retirements age 61 or
later, although your actual benefit
depends on your personal work record.
- The above information will be sent to you in a packet which will also include other important retirement forms. Once you have received and had a chance to review your packet you will need to call Ruth at 309/764-8080 extension 146 to schedule an appointment. If you are married, your spouse should also attend the meeting.
Please bring the following items with you to the meeting:
- Forms you received in your preliminary calculation packet;
- Birth Certificates for you and your spouse (if applicable); and
- Marriage Certificate (if applicable).
- Included in your packet you will receive an Annuity Application for Final Distribution. You should discuss this form with Merrill Lynch and/or your personal financial advisor prior to your meeting with the Fund Administrator.
Merrill Lynch Contacts:
Sue Reason 563/388-2370
Gary Whitaker 563/388-2381
- Q. How can I determine if I am eligible for an early retirement pension rather
than a deferred retirement pension?
A. To determine if you are eligible for an early retirement please refer to Section 3.05 Early Retirement Pension Eligibility of the N.E.C.A. LOCAL No. 145 Pension Plan.
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