RESOLUTION OF THE BOARD OF TRUSTEES
OF THE
LOCAL 697 I.B.E.W. & ELECTRICAL INDUSTRY
PENSION FUND
Passed at a special meeting on April 14th, 2022.
BE IT RESOLVED: Effective May 1, 2022, and terminating December 31, 2022, any retired participant may return to employment covered under a Collective Bargaining Agreement of an IBEW Local and keep their monthly Pension benefit, provided that:
- Ninety (90) calendar days have elapsed from the date that their first monthly pension benefit payment and their return-to-work date; and,
- The participant’s ERTS election provides that all contributions are paid to or reciprocated to the Benefit Funds of the IBEW Local 697.
Retired Participants that make this election to return to work, will:
- Maintain their current retiree status within the Lake County Indiana, NECA – IBEW Health and Benefit Plan, and,
- Be credited all Money Purchase Plan contributions made on their behalf, and,
- If they meet the SUB Fund participation requirements, will be credited all SUB Fund benefits received on their behalf.
Retired Participants that make this election to return to work, will not be entitled:
- To any additional Pension credits.
- To any additional Plan P credits.
- To any active Health Plan benefits.
WARNING: Should a retiree return to employment as defined by the Pension Plan, and engage in prohibited employment, that retiree will forfeit their monthly pension benefit during any month in prohibited employment. Therefore, the Plan urges all participants to refer to the section of the Pension Fund Summary Plan Description book titled “Prohibited Employment Defined.”
