Frequently Asked Questions

SUB Fund

As of July 1, 2022, a participant qualifies for S.U.B. Fund weekly benefits if they:

  • Have attained a $300.00 balance in their account* (*Due to the covid19 crisis, this requirement has been temporally waived)
  • Signed the I.B.E.W. Local 697 out of work list.
  • Be available to accept a call for work.
  • Show proof that you are receiving unemployment compensation benefits from a state or would have been eligible to receive unemployment compensation benefits from a state had your unemployment compensation benefits from that state not been exhausted.

A participant can elect either a $150 a week S.U.B. Fund benefit or a $300 a week S.U.B. Fund benefit. The amount elected at the beginning of their benefit period will remain the amount of their weekly benefit until such time as one of the following occurs:

  • Their eligibility for state unemployment benefits cease;
  • They fail to submit supporting documentation timely;
  • Their S.U.B. Fund balance is depleted.
  • Their balance falls below the participants designated weekly amount, in which they will only receive the remaining amount during that given week.

Participants are informed that:

  1. Weekly S.U.B Fund benefit payments are considered taxable income, (See FAQ titled “Is the S.U.B. benefit taxable?”) and
  2. The Plan does not withhold taxes on weekly S.U.B. Fund payments.

Yes. Weekly submission verifying receipt of State unemployment benefits is required in order to continue to receive S.U.B. fund benefits.

Weekly S.U.B. Fund payments will be directly deposited on the Wednesday following the business week that a properly completed application and documentation verifying unemployment is received by the Fund Office.

Participants are advised that continued payment of the weekly S.U.B. Fund Benefit is not automatic. Rather, payments are based upon the participants continued eligibility to receive benefits as well as their timely submission of documentation verifying their unemployment status.

The Internal Revenue Service (I.R.S.) considers supplemental unemployment benefits received from an employer-financed fund (to which employees do not contribute) as taxable wages. Accordingly, if you received a SUB FUND benefit, that benefit is considered taxable in the year received and must be claimed as taxable income on your federal and state income tax returns. Consequently, and in accordance with I.R.S. regulations, the Fund Office must issue you a W-2 form for any monies received.

Again, the Plan does not withhold any taxes on its weekly payments. So, plan and budget accordingly.

All S.U.B. Fund benefits are electronically deposited to the account at the financial institution that the participant has listed within the benefit application.

No. In order to be eligible for S.U.B. benefits, employees must be involuntarily unemployed, available for work, and must not be receiving a medical disability such as a weekly workers compensation benefit or a Social Security check.

Typically, a person who is not collecting an unemployment check cannot collect a weekly S.U.B. Fund benefit from the Plan. There does exist one exception to this rule. If the individual can prove that they have exhausted their State Unemployment benefit in its entirety they may be entitled to receive a weekly S.U.B. Fund benefit. Please call the Fund Office at 219-940-6181 for more information on this exception.

Yes, effective March 1, 2020, participants that:

  • Enter military service for a brief, non-recurrent period;
  • That have no expectation of significant continuing military service, and
  • Who have met the eligibility requirements of the Plan,

may elect to draw a weekly S.U.B. Fund benefit.

Proof of military time (i.e. military pay stubs) and a properly completed S.U.B. Fund application form must be received by the Plan within thirty days of either entering service or the participant leaving service.

If you elect not to receive a weekly S.U.B. Fund benefit, and are away from covered employment due to uniformed military service covered by USERRA and subsequently return to work for a contributing employer following an honorable discharge within the parameters of USERRA, your SUB FUND benefits will be protected as follows:

  1. Your participation will not be terminated;
  2. You will not forfeit any SUB FUND benefit you had accrued prior to your uniformed military service; and
  3. There is no need to requalify for participation in the SUB FUND due to absence for military service.

Participants who fall into this category are informed that no contributions to their S.U.B. Fund will be made while they are on military duty.

No. In order to collect a weekly S.U.B. Fund benefit you must be available for work.

Any Local 697 participants that are unable to work due to disability or workers compensation and:

  1. Have not had a contribution by a Contributing Employer made to their I.B.E.W. Local Union 697 S.U.B. Fund within twelve-months from the last work month a contribution was reported and,
  2. Have not received a weekly I.B.E.W. Local Union S.U.B. Fund benefit during that same twelve-month consecutive period,

will have their S.U.B. Fund balance transferred to their I.B.E.W. & Electrical Industry Local 697 Money Purchase Plan and Trust account.

Similar to Local 697 participants, a traveler qualifies for a weekly S.U.B. Fund benefit, if they:

  • Have attained a $300.00 balance in their account.
  • Signed the I.B.E.W. Local 697 out of work list.
  • Be available to accept a call for work.
  • Show proof that you are receiving unemployment compensation benefits from a state or would have been eligible to receive unemployment compensation benefits from a state had your unemployment compensation benefits from that state not been exhausted.

A travelers S.U.B. Fund balance will be electronically deposited to the account at the financial institution that they have listed within their application.

As of July 1, 2022, any active participant, or a Temporary Employee (Traveler) who:

  1. Has an active account balance of $300.00 or greater; and,
  2. Has not had a contribution by a Contributing Employer made to their I.B.E.W. Local Union 697 S.U.B. Fund within twelve-months from the last work month a contribution was reported; and
  3. Has not received a weekly I.B.E.W. Local Union S.U.B. Fund benefit during that same twelve-month consecutive period,

will have their S.U.B. Fund Benefit balance transferred to their I.B.E.W. & Electrical Industry Local 697 Money Purchase Plan and Trust account. In the case of a Temporary Employee (traveler) their S.U.B. Fund Benefit balance will be RECIPROCATED to their Home Local as follows:

  • To their Defined Contribution Plan, if no Defined Contribution Plan exists in their Home Local; then
  • To their Home Local’s Defined Benefit Plan

All participants (Local 697 participants and temporary employees (travelers) alike) with a S.U.B. Fund Benefit Balance of less than $300.00 and who have not received employer benefit contributions for a period of twelve (12) months and/or have not received a weekly S.U.B. Fund Benefit in twelve (12) months will have their S.U.B. Fund Benefit balances forfeited.

All Local 697 participants that retiree with a S.U.B. Fund Benefit balance AND as a result of employer contributions, are eligible to receive benefits through the Lake County Indiana, NECA-IBEW Health and Benefit Plan upon the start date of their retirement, will have the entirety of their S.U.B. Fund balance transferred to their HRA account within the Health and Benefit Plan.

If the participant retires with a S.U.B. Fund Benefit balance but did not meet the eligibility requirements for retire coverage under the Lake County Indiana, NECA – IBEW Health and Benefit Plan, their S.U.B. Fund benefit balance will be transferred to their Money Purchase Plan and Trust account.

If the participants retires AND is permitted to return to active employment AND receive their monthly pension benefit, their S.U.B. Fund Benefit balance will be transferred to their Money Purchase Plan and Trust account.