
Pension Withdrawal Alert!!!
Please be advised that if you are contemplating taking the once-in-a-life time withdrawal of up to $15,000 from the Wisconsin NECA-IBEW Retirement Plan that it may have an adverse effect on your unemployment benefits. We also strongly advise you to speak to your tax adviser for effects on you income taxes.
Also be aware there is a 10% Federal penalty, 3.3 % State penalty as well as about a 20% income tax that Will with withheld from this withdrawal.
The Pension Plan Trustee's allowed for this in good faith. They were unaware of the adverse effect on unemployment benefits.
There is currently a bill in the State Legislature, Assembly Bill 487, to address this issue.
We encourage you to contact your State Legislature and request them to pass this bill immediately and make it retroactive.
Any further questions please contact David Northup at the Union Office or Bonnie at the Fund Office, 800-422-2128.
2010 Dues Rates - “A” Member
$ 84.00 Quarterly
$168.00 6 Months
$336.00 Yearly
It is your responsibility to keep the Union Hall up to date with your current phone numbers and addresses. We are recently having difficulty getting hold of some members so PLEASE keep the Union Hall updated with any information changes.
Need to check your credentials go to: http://www.commerce.state.wi.us/SB/SB-CredentialStatusCheck.html
To get an application for your Journeyman or Masters Certification go to:
http://Commerce.wi.gov/SB/SB-FormCredAppList.html
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Whether you are planning to retire in six months, six years, or if retirement is too far ahead to contemplate, it is never too late to keep good records. Saving check stubs, date books, and copies of your employment records are just some of the ways to avoid confusion involving start dates and employers. Think about creating a job history folder to keep track of where you've worked. It may come in handy and make the process much easier on you.