Your employer pays the full cost of this coverage. This insurance covers you, your spouse, and all of your eligible dependents. It is NOT a deduction from your hourly wage, but a contribution over and above your hourly wage.
The National Electrical Benefit Fund (NEBF) has been in existence since 1946 and is paid for by your employer. It provides you with a monthly retirement pension or disability benefit for as long as you live, and is separate from Social Security or other pension benefits.
The Annuity Plan provides you with a valuable supplement to other retirement income. This is paid for entirely by your employer. The amount of the benefit paid to you or a beneficiary is determined by the amount of money in your account when you retire, become disabled, terminate employment, or die.