Leaving the Trade

Whatever the reason may be for your leaving the industry, you should determine the effect this will have on your benefit plans.

Plan Checklist

• Once you have left the electrical trades, are no longer working in covered employment and you have exhausted your hour bank, under most circumstances you may elect to self-pay on a monthly basis to stay covered under COBRA provisions for up to 18 months.
• You should check your vesting status under the Pension Fund to determine whether you are vested for a pension benefit. Since this benefit will not be payable until you reach the required age, you must keep your address information current with the Fund Office.
• You can review the termination withdrawal provisions of the Annuity Fund and the 401(k) Fund.
• If you are vested and married when you leave the industry and you later become divorced, be sure to deal with the division of your retirement benefits at the time of your divorce. If you wait until you reach retirement age to do this, you may experience a considerable delay before you can get the paperwork straightened out and can begin receiving benefits.

Contact the Fund Office if you have any questions.