Plan Description

The name of the Plan is the San Mateo Electrical Construction Industry Retirement Plan (“Plan”). The Plan is a multi-employer, collectively bargained defined contribution pension plan (also known as a “Money Purchase Pension Plan”) in which employer contributions are invested for your benefit. Benefits are payable on or at retirement (after age 55 or older), disability and in limited situations and amounts, upon the termination of employment.

Eligibility Requirements

You become a Participant in the Plan as soon as employer contributions on your behalf under a collective bargaining agreement between I.B.E.W. Local 617 and the San Mateo Chapter, National Electrical Contractors Association, Inc. are received by the Plan. The Trustees are authorized to enter into reciprocity agreements with the Trustees of other qualified Plans upon terms mutually agreeable and lawful. Such agreements may allow the transfer of funds between other defined contribution pension plans in the Electrical Industry. The form and content of any such reciprocity agreement are at the discretion of the Board of Trustees. Be sure to check with the Fund office or the Local Union Office if you wish to transfer to or from another I.B.E.W. Plan. 

You also may be a Participant in the Plan if you are a non-bargaining unit employee who has earned at least (5) benefit units under the Plan, and at least one half (1/2) of your total hours of service in the current or a prior Plan Year were worked as a bargaining unit employee. Your employer must have a subscription agreement with the Trust covering you and must contribute the specified contribution amount as determined by the Board of Trustees. As a Participant, you will receive a quarterly statement from the Fund Office showing the actual employer contributions paid on your behalf for that quarter and the value of your Individual Account. It is very important that you carefully review your statements and that you notify the Fund Office immediately if there is an error.

Qualification for Pension

You are eligible when you have met the following requirements:

  1. Normal Retirement Age
    You attain age 65, the Plan’s Normal Retirement Age, or later if you are not yet vested, at the fifth anniversary of your participation in the Plan without a Break in Service. You are considered retired when you reach age 65 and work less than 40 hours in a month in the Electrical Construction Industry in San Mateo County.
  2. Early Retirement – Attain Age 55
    Thirty Days Without Working Elapse. You terminate your Covered Employment, attain age 55, the Plan’s Early Retirement Age, or thereafter, and file a written certification that you have terminated or are intending to terminate your Covered Employment and/or any other employment in the electrical industry prior to your benefit commencement effective date.
  3. Permanent and Total Disability
    Regardless of your age if you are totally and permanently disabled, you may apply for the money credited to your Individual Account. You will be considered totally and permanently disabled only if you are entitled to a Social Security Disability Benefit, which is effective during the time of your Covered Employment or immediately following such.

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