National Electrical Benefit Fund

What National Electrical Benefit Fund does

National Electrical Benefit Fund (NEBF) is a jointly-trusteed multiemployer defined benefit pension fund established on September 3, 1946, through the Restated Employees Benefit Agreement and Trust between the National Electrical Contractors Association (NECA) and the International Brotherhood of Electrical Workers (IBEW). The organization administers retirement, disability, and survivor benefits for electrical industry workers covered by collective bargaining agreements containing NEBF Standard Contract Language, currently serving 164,056+ pension participants across the United States through contributions collected via NECA's 119 chapter collection-agent network.

NEBF operates three benefit programs: the core NEBF defined benefit pension (employers contribute 3% of gross labor payroll each month), the National Electrical Annuity Plan (NEAP) individual account annuity (minimum $0.25 per hour, with Life Stage Fund target-date options), and the newly introduced National Electrical Individual Benefit (NEIB) which captures contributions exceeding NEAP limits. Plan administration runs on the Online Benefits Portal (256-bit encrypted, Extended Validation SSL) for participant self-service and the eVault secure document exchange system for employer, Local Union, and NECA Chapter payroll data. A Monthly Reportable Earnings Cap Calculator supports employer compliance.

The fund is a non-profit with no equity ownership or parent company, governed by an equal board of employer (NECA) and union (IBEW) trustees. Headcount is between 11 and 50 based in Rockville, Maryland; the organization has maintained Green Zone Pension Protection Act certification continuously from 2010 through 2026. Product launches in 2025 (NEIB) and 2026 (Temporary Return to Work Amendment) point to incremental product-surface expansion rather than aggressive growth, consistent with a mature, regulated trust.

Name

National Electrical Benefit Fund

Legal name

National Electrical Benefit Fund

Website

https://nebf.com

Company type

Private

Founded year

1946

Operating status

Operating

Headcount range

11–50 employees

Short description

National Electrical Benefit Fund is a jointly-trusteed multiemployer pension fund, established in 1946 between NECA and IBEW, providing defined benefit retirement, annuity, and survivor benefits to 164,056+ electrical industry workers covered by collective bargaining agreements across the United States.

Ownership category

akta.pro rank

Product category

Multiemployer Pension Fund Administration

NAICS

Pension Funds (525110), Health and Welfare Funds (525120)

akta.pro primary industry

Pensions & Retirement Benefits Administration (BPAIAKAA)

akta.pro secondary industry

Disability Benefits Administration (BPAIAKAC)

Keywords

• Multiemployer pension plans
• Defined benefit retirement
• Annuity plan administration
• Electrical industry benefits
• Pension fund management

Headquarters

HQ city

Rockville

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Others, Marketing or Sales

Revenue model

1. Pension Contributions (NEBF): Contributing employers contribute 3% of covered employees' gross labor payroll each month. Gross labor payroll includes holiday, sick, and vacation pay. Contributions are collected through NECA chapters as local collection agents. This is a multiemployer defined benefit pension plan.
2. Annuity Plan Contributions (NEAP): Covered employers are required to contribute at least twenty-five cents ($.25) per hour for each hour worked in covered employment. The collective bargaining agreement or participation agreement determines the exact amount. NEAP accepts rollover contributions, asset transfers, and reciprocal transfers from other qualified plans.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

National Electrical Benefit Fund (NEBF) is a jointly trusteed multiemployer pension fund established in 1946 through a trust agreement between NECA and IBEW that provides retirement benefits to electrical industry workers. Covered employers contribute 3% of gross labor payroll each month to fund defined benefit pensions, while the companion NEAP annuity plan accepts per-hour contributions and rollover transfers. The fund also administers the new National Electrical Individual Benefit (NEIB), an individual account for excess contributions, and operates self-service technology for participants and employers.

Product overview

National Electrical Benefit Fund operates two core retirement benefit programs: the National Electrical Benefit Fund (NEBF) providing pension benefits at 3% employer contribution, and the National Electrical Annuity Plan (NEAP) providing individual annuity accounts. These are supplemented by the National Electrical Individual Benefit (NEIB) for excess contributions. The Life Stage Fund Program offers age-based investment options. Participants access services through the Online Benefits Portal for account management and eVault for secure payroll data exchange. Employers use the Monthly Reportable Earnings Cap Calculator for contribution calculations.

Differentiator

Problem solved

Functional benefit

Brands

• NEAP (National Electrical Annuity Plan): A defined contribution individual account annuity plan for electrical industry workers, separate from the NEBF pension plan.
• NEIB (National Electrical Individual Benefit)

Products and services

• National Electrical Benefit Fund (NEBF) Pension Plan A multiemployer defined benefit pension plan providing retirement benefits to electrical industry workers. Contributing employers contribute 3% of covered employees' gross labor payroll each month. Offers Normal Retirement at age 65, Early Retirement at age 62-64, Reduced Early Retirement at age 60-61, Disability Benefits, and Survivor Benefits.
• National Electrical Annuity Plan (NEAP) An individual account-based defined contribution annuity plan for electrical industry workers. Covered employers contribute at least $0.25 per hour for each hour worked in covered employment. Accepts rollover contributions, asset transfers, and reciprocal transfers from other qualified plans. Features Life Stage Fund Program for age-appropriate investing.
• National Electrical Individual Benefit (NEIB)

Quantifiable outcome

• 164,056+ pension participants receiving benefits
• +2 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• International Brotherhood of Electrical Workers (IBEW)coreStrategic or Co-development PartnerNEBF was established through the Employees Benefit Agreement between NECA and IBEW on September 3, 1946, now delineated as the Restated Employees Benefit Agreement and Trust. IBEW Local Unions secure electrical projects generating wages on which NEBF contributions are made. IBEW represents the union side of the jointly trusteed pension fund.
• National Electrical Contractors Association (NECA)coreStrategic or Co-development PartnerNECA represents the employer side of the jointly trusteed NEBF. NECA's 119 Chapters are designated local collection agents for NEBF, collecting contributions from covered employers and forwarding them to NEBF. NECA and IBEW jointly established and govern the fund through a Board of Trustees.

Scale indicators4 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• National Pension Fund (United Brotherhood of Carpenters): The largest multiemployer defined benefit pension plan for union carpenters in the U.S., jointly trusteed by the UBC and contractor associations. Operates a parallel model: per-hour contributions collected through affiliated locals, CBA-embedded participation, and Green Zone PPA status.
• Sheet Metal Workers National Pension Fund: A national multiemployer defined benefit pension fund for sheet metal workers under collective bargaining between union locals and contractor associations. Closely comparable structure: jointly trusteed, CBA-driven contributions, Green Zone-certified, and serving a single construction trade nationwide.
• National Electrical Annuity Plan (NEAP): Operated by the same NEBF organization as the defined contribution companion to the NEBF defined benefit pension. Serves the exact same electrical worker population and employer base with parallel contribution collection and the Life Stage Fund Program.
• Painters & Allied Trades Pension Fund: Multiemployer defined benefit pension plan for painters, glaziers, and allied trades under collective bargaining. Similar structure: jointly trusteed, CBA-driven contribution collection, and a single-construction-trade focus with parallel benefits administration.
• Plumbing & Pipefitting Industry Pension Fund: A national multiemployer defined benefit pension plan for plumbers and pipefitters under the United Association. Operates with the same NECA-IBEW-style industry partnership model, per-hour/per-payroll contributions, and PPA zone certifications.
• Iron Workers Local Pension Fund: Multiemployer defined benefit pension plans covering ironworkers under collective bargaining agreements. Comparable participant scale, single-trade focus, joint union-employer trusteeship, and reliance on CBA-embedded contribution language.
• IBEW Local Pension Funds: Individual IBEW local union pension funds operate as multiemployer defined benefit plans for electrical workers within specific geographic jurisdictions. They compete with NEBF for inclusion in local collective bargaining agreements, though many locals use NEBF as their primary fund.

Broad incumbents

• Western Conference of Teamsters Pension Trust: One of the largest multiemployer defined benefit pension plans in the U.S., covering Teamsters across multiple industries rather than a single trade. Operates under the same ERISA multiemployer framework with PPA zone certifications, but at materially larger scale and broader industry exposure than NEBF.
• Central States Pension Fund: Another large multiemployer Teamsters pension fund with multi-industry coverage across the Midwest. While not in the same trade as NEBF, it is one of the benchmark multiemployer DB plans for structural and regulatory comparison purposes.
• Fidelity Investments (Workplace Retirement): Operates large-scale defined contribution recordkeeping for multiemployer and corporate plans, including union-related plans. Comparable in scale and participant self-service technology (Life Stage / target-date funds), but serves the DC market rather than DB administration.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/watch?v=5JDGtlZsqM0

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about National Electrical Benefit Fund