1 

# I.B.E.W. LOCAL 415

BENEFIT

INFORMATION

March 2, 20122 I.B.E.W. Local 415 Summary Benefit Sheets

Table of Contents

8 th District Electrical Health & Fam ily Care Information . . . . . . . . . . . . . . . . . . . . . . .Page 3

8 th District Electrical Pension Informatio n . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . .Page 4

National Electrical Pension Benefit Fund Information . . . . . . . . . . . . . . . . . . . . . . . . . Page 5

I.B.E.W. Pension and Death Benefit Plan Information . . . . . . . . . . . . . . . .. . . . . . . . . Page 5

Apprenticeship and Journeyman Training Classes . . . . . . . . . . . . . . . . . . . . . . . . . . . . Page 5

Voluntary Vacation Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... . . .Page 5

8 th District Electrical Annuity/401k Contribution Information . . . . . . . . . . . . . . . . . .Page 5

I.B.E.W. Local 415 Death Benefit Plan Information . . . . . . . . . . . . . . . . . . . . . . . . . . . Page 6

AFL-CIO Union Privilege Services Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Page 6

Quarterly Dues Distribution Information . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Page 7

Local 415 Wage-Fringe Package Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Pages 7

Local 415 Union Dues Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Page 8

8 th District Electrical Pension Benefi t Examples at Retirement. . . . . . . . . . . . . . . . . . . Page 9

8 th District Electrical Annuity/401k Pl an Information . . . . . . . . . . . . . . . . . . .. Pages 10 to 123 SUMMARY OF UNION BENEFITS AND UNION DUES FOR IBEW LOCAL 415 MEMBERS Upon becoming a member of L.U. 415 you have im mediate voice and vote at union meetings, representation during grievance pr ocedure, and the Council of Indus trial Relations arbitrates all contract disputes (there is a no strike clause and procedure). Benefits are reciprocal with all signatory contractors in Wyoming, the United States and Canada

.

HEALTH, LIFE & DISA BILITY INSURANCE Fringe Benefit Paid by the Contractor

Effective 6/01/11 $5.50 per hour worked * Medical coverage for the employee AND the employee’s dependents * Preventive Maintenance Dental coverage for the employee and the employee’s dependents. * $20,000 Life Insurance on employee * $20,000 Accidental Death, Dismemberment benefits on employee * $2,000 Life Insurance for Spouse * $1,000 Life Insurance for dependents age 0 - 6 months * $2,000 Life Insurance for dependents age 6 months and older. * There is a preferred provi der list for medical services available in the office. * If you receive medical services , the insurance covers 75% of the firs t $8,000 of allowed charges, per person, per year after deductibles have been met; 100% thereafter. Deductibles are $400/person and family cap of $1,200.00. There is a cap of reimbursement of $750,000 through 12/ 31/2011; $1,250,000 from 1/01/12 through 12/31/2012; $2,000,000 for the period 1/01/ 2013 through 12/31/2013; and starting

1/01/2014 there is no calenda r year benefit maximum. * If you receive medical treatment in the em ergency room of a hos pital, there is a a co pay of $200 per visit and after the deductible is met, the plan covers 75%. * If you receive medical treatment in a hospita l, there is a co pay of $200 per visit and after deductible is met the pl an covers 75%. * Retail Prescription reimbursement deductibles are: Generic: You pay 10% of the drug cost plus a minimum copy of $10.00 and a $20 maximum co pay; Preferred Brand Name Drug- You pay 25% of the drug co st plus a $25 minimum co pay to a maximum $50 co pay; Non-Preferred Brand Name Drug- You pay the greater of 50% of the drug cost or a $50 co pay. * Mail Order Facility (90 day supply) reimburseme nt deductibles are: Generic- Plan covers 100% after you pay a $20 co pa y; Preferred Brand Name Drug- Plan covers 100% after you pay a $50 co pay. * Specialty Medications (up to a 30-day s upply): Plan covers 100% of the cost afte r you pay a $35 co pay. * Up to 3 months of “bank hours” can be accumu lated to maintain insurance coverage when unemployed. 429 hours maximum. * Short Term Disability In surance Benefits available.4 Contributions to this plan on your behalf begi n upon employment with a signatory contractor.

Your insurance will become effective two mont hs after the month in which you complete 143

hours of work.

EXAMPLE: Completed 143 hours of work in January. January hours reported by contractor in February. February is lag month. C overage begins March 1st.

This means that coverage for new employees usually begins with the third month of employment. The Fund Office will notify you when your coverage begins and will provide you with a copy of the plan description.

* When an employer becomes signatory a one tim e waiver of the initial eligibility hours can be waived. You will have immediate coverage.

PENSIONS We control our own retirements, they cannot be touched by outside in terest, i.e. company by-outs, I.R.S., law suits, etc.. If you are disabled, or die, benefits are paid to your survivors. You do not forfeit your benefits.

EIGHTH DISTRICT PENSION PLAN Fringe Benefit Paid by the Contractor $3.06 per hour worked * Pensions average $1200 - $1600 per month. Pension amount is determ ined by the actual dollars contributed into the plan.

* Pre-Retirement Death Benefits * Disability Retirement Available * Early Retirement at age 55 is available * Spouse and Survivor Options available. * 5 Year Vesting * Availability to retire at age 62 with 30 years of continuous serv ice with full benefits.

For Journeyman Wireman, contributions to this plan on your behalf be gin upon employment with a signatory contractor. For appr entices, at the present time, th e collective bargaining agreement

states the contributions will begin when you’re in the 2 nd year of the apprenticeship program.5 NEBF PENSION PLAN Fringe Benefit Paid by Contractor 3% of gross earnings * Pensions average $700 - $930 per month. Pens ion amount is $32 per month per year

of service. * Availability to Retire at age 62 with full benefits * Disability Retirement available * Spouse Option available * 5 Year Vesting Contributions to this plan on your behalf begi n upon employment with a signatory contractor.

IBEW PENSION AND DEATH BENEFIT PLAN Paid for by monthly Union dues * Pension amount is $4.50 per month per year of service * $ 6,250 ($12,500 in case of accidental de ath) Pre-Retirement Death Benefit * Disability Retirement available * Early Retirement at age 62 available, after 20 years of service. * Spouse Option available After 6 months membership in the IBEW you ar e eligible for the IBEW Death Benefit.

APPRENTICESHIP AND JOURNE YMAN TRAINING CLASSES Fringe Benefit Paid by Contractor 2.0% of gross earnings * NECA-IBEW Apprenticeship offers the Best training program in the electrical industry. * Training classes are held regu larly for apprentices and journe ymen. These include welding, fiber optics, programmable controls, Code study, Code update, fire alarm, telecommunications, process controls, blueprin t reading, study classe s for the state test,

etc..

VOLUNTARY VACATION PLAN 5% of earnings is placed into members account at the Meridian Trus t Federal Credit Union.

There is no restriction on when th e member may withdraw these funds.

EIGHTH DISTRICT ELECTRICAL ANNUITY/401k PLAN Fringe Benefit Paid by the Contractor $2.50 per hour worked in the Southern Agreemen t and $1.00 per hour in the Northern Agreement Contributions to this plan on your behalf begin upon employment with a union contractor. For Journeyman Wireman, contributions to this pl an on your behalf begi n upon employment. For apprentices, at the present time, the collective ba rgaining agreement states the contributions will begin after six (6) months in th e apprenticeship program. You may contribute, in increments of $.50 to $8.00 per hour worked, to an individual 401k plan that is administered like the annuity plan, only if you are working for a co ntributing signatory contractor.6 LOCAL 415 DEATH BENEFIT FUND For Local Union 415 members after joining the IBEW you are eligible for the Local Union Death Benefit. Self perpetuating fund by $10.00 per me mber contributions as necessary. Benefits are averaging $3,000.00 to beneficiary. *Death Benefit paid imme diately to beneficiary

AFL-CIO UNION PRIVILEGE SERVICES

For Local Union 415 Members

* MASTER CHARGE CARD - No annual fee, low variable rate of interest. * LAWYER REFERRAL SERVICE- Participati ng lawyers offer free in itial consultation, free follow-up services, 30% discou nt on personal legal matters. * MORTGAGE & REAL ESTATE PROGRAM - Down payments as low as 5%, Special protection for members out of work, Speci al help for first-time buyers , Discounts on real estate commissions, reduced closing costs. * LOAN PROGRAM - Personal loans up to $15, 000 for terms up to seven years, Lower rates and longer terms mean lower mont hly payments, Government-backed and other education loans available, Skip payments.

* HEALTH NEEDS SERVICE - Disc ount mail-service pharmacy, Covers your family and relatives, Significant savings co mpared to neighborhood pharmacies.

* UNION SHOPPER - Brand na me products-up to 60% off, Car s hopping, price comparison services, Eyewear disc ounts - 20% to 60%, $19.95 annual fee- only $9.95 when purchased in combination with Union Driver & Traveler. * LIFE INSURANCE - Low group rates - up to 25% below comparable plans, Select from $10,000 up to $100,000 of coverage, Special plans fo r seniors and members with health problems. * UNION DRIVER & TRAVELER - Towing, roadside assistance for household family members, Repair discounts from 30,000 shops nationwide, 5% cash back on completed domestic airline travel, Low $39.95 annual family membership fee.

* UNION MEMBER DISCOUNTS - Hertz rental car discounts on daily, w eekend or weekly rentals, Discounts on tires, car care from Firest one, Discounts on eyewear, hearing aids, Discounts on mail-order videos, tapes and CD’s, Wa lt Disney World hotel discounts. Discounts on College Counsel- college selection, financing guides.7 QUARTERLY DUES DISTRIBUTION : Your dues are distributed as follows:

2012 $ 42.00 IBEW Pension Fund 45.00 General Fund (International Office) 6.00 Wyoming Building & Trades

8.10 Lo cal 415 (includes AFL-CIO per capita) $101.10 As you can see from the distribution above, monthly dues do not pay for the operation of the Local Union. Therefore, a working dues asse ssment of 5% of gross wages is paid by all electricians working under the collective bargaining agreement to operate the Local Union.

Here is a recap of your wage and fringe benefit package, based upon the Cheyenne Southern Agreement, and your Union dues expressed in hourly rates:

Wage Wage Wage Wage WAGE-FRINGE PACKAGE Package Package Package Package

3/02/09 3/02/10 6/01/11 3/02/12 Wage $26.70 $24.97 $24.72 $25.72 Health Coverage 4.75 5.00 5.50 5.50

8th District Pension 2.45 3.06 3.06 3.06

NEBF Pension .80 .75 .74 .77 Annuity 2.50 2.50 2.50 2. 50 Training .52 .50 .49 .51

-------- ---------- --------- -------- TOTAL: $36.18 $ 37.72 $ 36.78 $38.06

Note: The Gillette Northern and Industrial Ag reements current wage is $ 25.87 and $ 27.19 respectively with the Annuity Contribution of $1.00 per hour on both of these agreements with the other fringe benefits the same.8 UNION DUES

A. 2011 Quarterly Dues $ 95.10 (quarterly dues not deducted from check)

3/02/09 6/01/10 6/01/11 3/02/12

B. 5% Per Hour Working Assessment $1.60 $1.50 $1.48 $ 1.29 (Deducted from check base d on the Cheyenne Scale)

C. Working assessment for apprentices vary according to the pe riod they are in.

1 st and 2 nd Period: none

3 rd and 4 th Period: 2% of Gross Wages

5 th Period: 4% of Gross Wages

6 th Period: 5% of Gross Wages

As you can see from this distribution, a nd contrary to some non-union propaganda, the wages and benefits you receive through the union are well worth the union dues you pay.

Remember to keep your beneficiary ca rds current with the following funds : Health & Welfare, 8th District Pension Fund, Vacation Fund, and IBEW Death Benefit Fund. If you need to change beneficiaries, add dependent s to your health coverage, or file a change of address, stop by the Union Hall and fill out the paperwork. If you have any questions about the Union, the Funds, the Collective Bargaining Agreement, th e IBEW Constitution, the Local Union By laws, or the customs, practices and policies of our organization you can call us at the Union Hall (307) 632-5944.9 PENSION BENEFITS IBEW LOCAL 415 We are proud of the retirement benefits th at our union has been able to negotiate, guarantee, and provide. As productive and union cr aftsmen, we have the means to maintain our dignity and standard of living in our retirement years. The following presentations are based on twenty and thirty years of credited service at sixty five years of age assuming you are starting your career now and the current calculation information is constant.

1. DISTRICT 8 PENSION PLAN: 2,000 Hours/Year x 30 Years Service @$2.45 x 1.5%(Current Ration) = $2,205.00 per month

1,500 Hours/Year x 30 Years Service @$2.45 x 1.5%(Current Ration) = $1,653.75 per month

2,000 Hours/Year x 20 Years Service @$2.45 x 1.5%(Current Ration) = $1,470.00 per month

1,500 Hours/Year x 20 Years Service @$2.45 x 1.5%(Current Ration) = $1,102.50 per month

2. NATIONAL ELECTRICAL BENEFIT FUND: $32.00 Per Month Per Service Year x 30 Years of Service = $960.00 per month

$32.00 Per Month Per Service Year x 20 Years of Service = $640.00 per month

3. ELECTRICAL WORKERS BENEFIT ASSOCIATION: $4.50 Per Month Per Service Year x 30 Years of Service = $135.00 per month

$4.50 Per Month Per Service Year x 20 Years of Service = $90.00 per month

AVERAGE WORKING 2,000 HOUR TOTA L MONTHLY PENSION BENEFITS 20 Years: $2,200.00 30 Years: $3,300.00

AVERAGE WORKING 1,500 HOUR TOTAL MONTHLY PENSION BENEFITS 20 Years: $1,832.50 30 Years: $2,748.75

YEARLY PENSION BEFORE SOCIAL SECURITY:

30 YEARS WORKING 2,000 HOUR @ $2.45 = $39,600.00

20 YEARS WORKING 2,000 HOUR @ $2.45 = $26,400.00

30 YEARS WORKING 1,500 HOUR @ $2.45 = $32,985.00

20 YEARS WORKING 1,500 HOUR @ $2.45 = $21,990.00

ADDITIONAL PENSION BENEFITS: Eighth District Electrical Pe nsion Fund Annuity/401k Plan Multi-employer Plans with participating employe rs in all of the United States and Canada

Pre-Retirement Death Benefit Disability Benefits Survivor and Joint Pension Options Early Retirement10 THE ABOVE PRESENTATIONS ARE ESTI MATES, THE RESPECTIVE PENSION

PLAN AGENCY WILL CALCULATE YO UR EXACT PENSION AMOUNTS.

8 TH District Electrical Pens ion Fund Annuity/401 K Plan

Currently I.B.E.W. Local 415 signatory contr actors contribute $2.45/hour if working under the Local 415 Southern Agreement and $1.00/hour if working under the Local 415 Northern Inside or Industrial Agreements into an individual account se t up in your name. This is a self-directed investment plan. Every year the 8 th District will charge each indi vidual account an administrative fee for maintaining your account and will deposit your share of earnings from the investments made in accordance with the plan description.

The 401K aspect of the plan allows you to voluntarily deduct from your check for retirement investment in increments of $.50/hour worked to $8.00/hour worked. This as pect is administered the same way as the annuity plan.

When can you receive the money in your individual account?

1. At Retirement - Receipt of a pension from the 8 th District Electrical Pension Fund will establish your Retirement status. If you have attained age 65, or the age of 55 and no contributions have been made to your Individual account for at least 3 consecutive months, you are entitled to receive the money in your Individual Account.

2. When you stop working in the industry. Regardless of your age, you may apply for payment of the money in your Individual A ccount, if you have worked less than 500 hours in the industry in a two consecutive Plan Year period.

3. If you are totally and permanently disabled . Regardless of your age, if you are totally and permanently disabled, and entitled to a Social Secu rity disability benefit, you may apply for the money in your Individual Account.

4. If you die. If you die, and have been legally married to your surviving Spouse for 1 year or more, any money in your individual account will automatically be paid in the form of a qualified joint and 50% surviving Spouse annu ity unless you elect to waive th at form of benefit with the consent of your Spouse in writing witnessed by a not ary public or Fund representative. If you are not married, or, if you are not eligible for or have waived the surviv ing Spouse annuity, your accumulative share can be paid as an annuity or in a lump sum.

5. Financial hardship . Regardless of age, you can receiv e a distribution of your Individual Account balance if you have an immediate and heavy financial need in one of the following categories:

A. Certain medical expenses which are incurred by you or your family.11 B. Purchase of a principal residence by you. This does not include making mortgage payments on your principal residence.

C. Payment of tuition, related education fees, and room and board expenses for the next semester or quarter of post-seconda ry education for you or your family. D. To prevent eviction or foreclosure on the mortgage of your pr incipal residence. A participant will be limited to use this no more than once every two Plan Years, unless the Participant has been unemployed for at least six consecutive months. E. Funeral expenses for the Pa rticipant’s Spouse, child or parents. F. Any other need specifically listed in the Regulations or other official guidance that allows the Plan to make hardship distributions.

6. Loan Program . A participant who has had an Individual Account in the Fund for five (5) or more plan years shall be eligible for a loan from his Individual Accounts, subject to the limitations and requirements of this program.

A. Maximum Amounts. The maximum dollar amount for a loan will be the lesser of: 1. $50,000, reduced by the highest outstanding balance of loans from the Fund to the Participant during the one (1 ) year period ending on the day before the date of the new loan, or 2. 50% of the value of the Particip ants’ vested interest in the Individual Accounts as of the Valuation Date most recently preceding the date of the loan.

B. Eligible Purposes. Loans will be made only for the following purposes: 1. Expenses of at least $ 1,000 incurred (and which the Participant is obligated to pay) because of sickness or injury which have not been reimbursed by, or for which the Participant has no right to reimbursem ent from, any public or pr ivate plan or program including, but not limited to, Social Security, Medicaid, any Employer, Union or joint employer-union welfare plan or program, or Workers’ Compensation. 2. Expenses incurred in c onnection with the payment of tuition and/or room and board maintain a dependent child at an edu cation institution beyond the high school level. A loan pursuant to this shall be made to a Participant only onc e per dependent child. 3. Expenses due to the purchased or substant ial rehabilitation of (when such expenses of

rehabilitation exceed $5,000) a home, or cooperative or condominium apartment, in which he will reside and has thereby incu rred down payment, contract, and title expenses, provided however, that a loan for th is shall be made to a Participant once. 4. The Participant is threatened with lo ss of a home, or cooper ative or condominium apartment, in which he resides, as a result of any foreclosure pro ceedings brought against him or any tax lien proceeding that is based on his failure to pay real estate taxes on such property. 5. Funeral expenses incurred because of the death of a Spouse, child, or parents.12 How will your Individual Account balance be paid out? If you are not married and the amount in your In dividual Account is more than $3,500, your form of payment will be a single life annuity, unless y ou elect an optional form of payment. If you are married and the amount in your Individual Acco unt is more than $3,500, your form of payment will be a qualified joint and 50% survivor a nnuity, unless both you and your spouse reject this form of payment within 90 days before your pension payment commences.

(1) Single Life Annuity. A single-life annuity pr ovides you with a lifetime monthly benefit with no further benefits payable upon your death.

(2)Qualified Joint and 50% Survivor Annuity. Th is provides you with a lifetime monthly benefit and a lifetime monthly benefit fo r your surviving spouse if you di e first, equal to 50% of your monthly benefit. No benefits are pa yable following the death of your spouse.

The monthly annuity benefits will be provided by purchasing an annuity from an insurance company. The amount of your monthly benefit will be determined by the insurance company based on your Individual Acc ount balance upon Retirement.

If the amount in your Individual Account is $3,500 or less, your benefit w ill be paid in a lump sum, whether or not you are married.