What Your Pension
Actually Pays.
“Excellent pension and benefits” is not a number. This is. The IBEW pension has two components most workers don't understand until retirement. The disability pension has a third number that almost nobody discusses beforehand.
| NEBF (National Electrical Benefit Fund) | $1,280/mo 40 yrs × $32/yr of service |
| Local union pension (estimated) | $1,520/mo 40 yrs × $38/yr of service |
| Combined union pension | $2,800/mo |
| Social Security (estimated at age 62) | $1,197/mo Reduced — full benefits at 67 |
| Self-directed savings (5% of gross for 40 yrs) | $3,133/mo $939,882 balance at 4% withdrawal |
| Total monthly income | $7,130/mo |
This is the pension's equivalent capital value — what you would need invested in a self-directed account to generate the same monthly income. It does not factor in pension solvency risk or cost-of-living adjustments.
What these numbers mean
The National Electrical Benefit Fund is the national IBEW pension — every contributing local pays into it. The formula is $32/month per year of service. At 30 years, that's $960/month. It's not enough to live on alone, but it's reliable — it's backed by every signatory NECA contractor in the country.
The local pension is separate and varies enormously. A major-metro local might pay $75/month per year of service; a weaker local might pay $20/month. The combined pension at a strong local after 30 years can be $2,500–$3,000/month — meaningful retirement income. At a weak local, it might be $600/month. This is the number to confirm before you commit to a local.
If you are injured and can no longer work, the IBEW International disability pension is $5.50/month per year. At 20 years: $110/month. The local pension is separate and more substantial, but still far below active-work income. Construction workers retire 5.7 years earlier than average due to physical incapacity. Planning for this is not optional.
This calculator uses approximate figures: NEBF at $32/month per year of service (current published rate); local pension estimates by market tier (actual rates vary by local CBA — confirm with your local's pension administrator); Social Security estimate based on approximate career earnings; self-directed savings assuming 7% annual growth. This is illustrative, not financial advice. For actual pension projections, contact your local's pension fund and Social Security Administration (ssa.gov/myaccount).