Local 86 Pension Retirees Allowed to Work

With the positive work outlook coupled with unfilled job calls, the Local 86 Pension Trustees have decided to allow retirees to continue to work and collect their pensions. The ‘Return-to-Work’ amendment will be extended FROM the previous cutoff date of September 25, 2022 TO now expire on December 25, 2022 (unless the Trustees deem appropriate to end it sooner).

Under this Amendment extension, the ‘$800 Bridge Benefit’ will be suspended in post-retirement employment in excess of 40 hours per month after September 25, 2022. The Trustees have determined the original intent behind the ‘Bridge Benefit’ was to help supplement non-working retirees pay for their health insurance, which is not the case when the Member has the ability to work without restriction and still collect their pension. NOTE – this will not affect the guaranteed minimum 48 payments under the ‘Bridge Benefit.’

This is for the Local 86 pension only. The rules of NEBF and IO pensions still apply.

Make sure your beneficiaries are up to date

When life events happen such as marriage, divorce, death of a beneficiary, etc. please make sure you update your beneficiaries not only with the Funds office but also with the International office.

For the International office:

If you do not have a beneficiary designation form on file, Article XI of the IBEW Constitution states that the death benefit is payable to the following individual(s) in order of priority:

  1. Member’s spouse, or if none;
  2. Member’s children in equal shares, or if none;
  3. Member’s parents in equal shares, or if none;
  4. Member’s estate

OR if you wish to specifically name a beneficiary or change a beneficiary previously named, you must fill out a new beneficiary designation form.

This form can be found on our website:

Online Forms – IBEW Local 86 (ibewlu86.org)

or on the International office website:

Beneficiary_USA (ibew.org)

http://www.ibew.org/Portals/31/documents/pension/Beneficiary_Cover_Letter2b.pdf

Do not assume you do not have a beneficiary designation form on file. You may have filled one out at the beginning of your career and it needs updating. If you are unsure whether you have one on file or not, call us and we will check on it for you.