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NECA IBEW Benefits

NECA IBEW Benefits

Location

2120 Hubbard Ave Decatur IL United States 62526


About Business

What is the IBEW-NECA Benefits Administration Association?

The IBEW-NECA Benefits Administration Association is located in Decatur, Illinois. The Association presently administers the NECA-IBEW Welfare Trust Fund (Welfare Trust Fund) and the NECA-IBEW Pension Trust Fund (Pension Trust Fund) jointly with the National Electrical Contractors Association (NECA) and the International Brotherhood of Electrical Workers (IBEW) for many locals located in Alabama, Indiana, Illinois, Florida, Georgia, Kentucky, and Wisconsin.

Originally, the Welfare Trust Fund was an insured plan with Aetna Insurance Company. In October 1967, the Welfare Trust Fund became self-insured. On April 1st, 1991, the Welfare Trust Fund became self-administered. As a result of being self-administered it was necessary to form a corporation for the Plan. In the beginning, a Board of Directors was elected which consisted of three labor Trustees and three management Trustees. Each Director serves a 3 year term. The terms are staggered and as a result only one union and one management Trustee are elected annually.
The Board of Directors

The duties of the Board of Directors include the hiring of the Administrator and approval of the yearly budget and expenses. In addition, the Board of Directors oversees the daily operations of the Fund Office. The Board of Directors and the Board of Trustees are dedicated to the participants and to administering the funds in a most cost efficient manner.
The Fund Office

The Fund Office has 40 employees that administer claims, COBRA, reciprocity, employer reporting, large case management, retiree health and welfare benefits, pension benefits and various other responsibilities.


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