National Elevator Industry Benefit Plans

What National Elevator Industry Benefit Plans does

National Elevator Industry Benefit Plans (NEI Benefit Plans) is a multiemployer Taft-Hartley benefit trust established in 1962 under collective bargaining agreements between the International Union of Elevator Constructors (IUEC) and contributing employers. Headquartered at 19 Campus Blvd., Suite 200 in Newtown Square, Pennsylvania, the organization administers a unified portfolio of health and retirement benefits to eligible IUEC members and their dependents across the United States and Canada. Its core products comprise a Health Plan (medical, dental, vision, mental health/substance use disorder support, life insurance, AD&D, COBRA), a defined benefit Pension Plan, and the Elevator Constructors Annuity and 401(k) Retirement Plan (which includes employer-funded Annuity Accounts, voluntary employee 401(k) contributions with Roth options, and Rollover Accounts). Supporting services include Life Events processing, educational videos, member resources, and an employer portal.

The plan is funded by employer contributions as defined in collective bargaining agreements and is governed by a Joint Board of Trustees representing employers and the IUEC. Operational delivery is outsourced through a network of third-party administrators and service providers: Empower Retirement administers the Annuity and 401(k) plan, Blue Cross Blue Shield handles medical claims via the BlueCard PPO network, Express Scripts provides pharmacy benefit management, Guardian Dental administers dental benefits, EyeMed provides vision coverage, MDLIVE offers telemedicine, Lyra provides mental well-being and Member Assistance Program services, Acentra handles precertification, TruHearing covers hearing benefits, and Allsup assists with Social Security disability applications. Member and employer portals are hosted on gobasys infrastructure. The organization has no public commercial revenue, no parent company, and is not publicly traded; it functions as an industry-specific, labor-affiliated benefits administrator.

The go-to-market motion is structurally embedded in the CBA framework rather than outbound sales: members are acquired through union membership rolls, employer participation flows from collective bargaining obligations, and the marketing channel mix consists of educational content, downloadable plan documents, employer resources, and direct office contact. Strategic activity in the recent period has centered on plan modernization — notably the May 2026 transition to participant-directed Annuity investment and the 2023 launch of the Roth Program — together with ongoing regulatory compliance (ERISA, ACA 1095 reporting, FASB ASC 715-80 disclosures, Roth Catch-Up requirements).

Name

National Elevator Industry Benefit Plans

Legal name

National Elevator Industry Benefit Plans

Website

https://neibenefits.org

Company type

Private

Founded year

1962

Operating status

Operating

Headcount range

51–100 employees

Short description

National Elevator Industry Benefit Plans is a multiemployer Taft-Hartley benefit trust, established in 1962, administering health, pension, and annuity/401(k) benefits to International Union of Elevator Constructors members and their dependents across the U.S. and Canada.

Ownership category

akta.pro rank

Product category

Multi-employer benefit plan administration (health, pension, and retirement)

NAICS

Insurance and Employee Benefit Funds (5251), Health and Welfare Funds (525120), Pension Funds (52511)

SIC

Life Insurance (6311)

akta.pro primary industry

Benefits Administration (BPACAPAC)

akta.pro secondary industry

Ancillary Employer Benefits (Life/Disability/Accident/Critical Illness) (HLAEAAAK)

Keywords

• Multiemployer benefit plans
• Taft-Hartley pension plans
• Union health benefits
• Annuity 401(k) retirement
• Benefit plan administration

Headquarters

HQ city

Newtown Square

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Employer Contributions: Multiemployer benefit plan funded by employer contributions as defined in collective bargaining agreements with the International Union of Elevator Constructors (IUEC) or employers' participation agreements with the Trustees.

Distribution channels3 records

Marketing channels3 records

Core offering

National Elevator Industry Benefit Plans is a multiemployer benefit trust that administers a Health Plan (medical, dental, vision, mental health, substance use disorder, life insurance), a defined-benefit Pension Plan, and the Elevator Constructors Annuity and 401(k) Retirement Plan for eligible members of the International Union of Elevator Constructors and their dependents. It also provides life-event benefit transition support, educational resources, and employer contribution/remittance reporting for contributing elevator-industry employers across the U.S. and Canada.

Product overview

National Elevator Industry Benefit Plans is a multiemployer benefit plan administrator providing a unified portfolio of retirement and health benefits to elevator industry workers. The organization offers four core benefit products: Health Plan (medical, vision, dental, mental health, and life insurance), Pension Plan (defined benefit retirement), Annuity and 401(k) Plan (individual account-based retirement savings combining employer contributions, employee deferrals, and rollover options), and Life Events support services. These core products are supported by member resources including educational videos, forms, FAQs, contact directories, and an employer portal with union local links. The plans are administered through partnerships with healthcare providers (BCBS, MDLIVE, Express Scripts, Guardian Dental, EyeMed), retirement recordkeepers (Empower), and benefits administration platforms (gobasys).

Differentiator

Problem solved

Functional benefit

Products and services

• Health Plan

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration11 records

Partnerships

Eleven partnerships are on record, tiered core and supporting.

• International Union of Elevator Constructors (IUEC)coreStrategic or Co-development PartnerThe IUEC is the labor union representing elevator constructors. The benefit plans are established through collective bargaining agreements between IUEC and employers. IUEC local unions across the U.S. and Canada participate in the plans.
• Empower RetirementcoreTechnology or IntegrationEmpower serves as the plan administrator and recordkeeper for the Elevator Constructors Annuity and 401(k) Retirement Plan. They provide participant account access, investment management, and distribution processing.
• Blue Cross Blue Shield (BCBS)coreTechnology or IntegrationBCBS provides medical and vision claims processing through the BlueCard PPO network. Members can access in-network providers through BCBS.
• Express ScriptscoreTechnology or IntegrationExpress Scripts provides pharmacy benefit management services including prescription drug coverage and home delivery options.
• Guardian DentalsupportingTechnology or IntegrationGuardian Dental handles the Plan's dental benefit program, including claims processing and member inquiries.
• EyeMedsupportingTechnology or IntegrationEyeMed provides vision care benefits including eye exams and corrective lenses through their provider network.
• AcentrasupportingTechnology or IntegrationAcentra handles precertification for medical and mental health care and substance use disorder admissions under the Health Plan.
• LyrasupportingTechnology or IntegrationLyra provides mental well-being support and Member Assistance Program services, offering 24/7/365 support for members.
• MDLIVEsupportingTechnology or IntegrationMDLIVE provides telemedicine and virtual visit services for members, enabling remote healthcare consultations.
• TruHearingsupportingTechnology or IntegrationTruHearing provides hearing aid benefits and hearing care services for eligible members.
• AllsupsupportingTechnology or IntegrationAllsup provides assistance applying for Social Security disability payments for pension beneficiaries.

Recent moves6 records

Expansion highlights4 records

Direct peers

• Carpenters Pension Trust Funds (e.g., Northern California Carpenters): Multiemployer pension, health, and annuity trusts administered for United Brotherhood of Carpenters members via collective bargaining. Closely mirrors NEI in plan design (pension + health + annuity stack), trustee governance, and CBA funding.
• Iron Workers Pension Fund: Multiemployer defined benefit pension plan covering International Association of Bridge, Structural, Ornamental and Reinforcing Iron Workers. Identical structural template as NEI: trade-union-exclusive, CBA-funded, jointly-trusteed multiemployer plan.
• Operating Engineers Pension Trust Funds: Multiemployer pension and health benefit trusts operating locally/regionally for International Union of Operating Engineers members. Same trade-union multiemployer plan structure serving heavy equipment operators in construction.
• Heat and Frost Insulators National Pension Fund: National multiemployer defined benefit pension plan for International Association of Heat and Frost Insulators and Allied Workers. Directly comparable as a single-trade, CBA-funded, jointly-trusteed construction trades pension fund.
• United Steelworkers Pension Plan (multiemployer): Multiemployer retirement and health benefit plans administered for USW members through CBA trusts. Comparable in jointly-trusteed multiemployer structure serving a specific industrial trade union workforce.
• Plumbers and Pipefitters National Pension Fund: Multiemployer defined benefit pension fund for UA (United Association) plumbers, pipefitters, and service technicians. Mirrors NEI's structure: industry-funded, jointly trusteed CBA vehicle for a single construction trade union's retirement benefits.
• Sheet Metal Workers' National Pension Fund: National multiemployer defined benefit pension plan for SMART (Sheet Metal, Air, Rail, Transportation) union sheet metal workers. Directly comparable: trade-specific CBA, jointly-trusteed governance, multiemployer plan reporting under ERISA.
• National Electrical Benefit Fund (NEBF): Taft-Hartley multiemployer defined benefit pension plan for IBEW (International Brotherhood of Electrical Workers) members. Closest direct peer—same CBA-funded, trade-specific, jointly-trusteed multiemployer plan structure providing retirement benefits to a single construction trade union's members.
• Bricklayers and Masons International Pension Fund: International Union of Bricklayers and Allied Craftworkers multiemployer pension plan. Same multiemployer CBA-funded construction trade pension model as NEI, serving a single trade union's workforce across the U.S. and Canada.

Broad incumbents

• Central States, Southeast and Southwest Areas Pension Fund (Teamsters): One of the largest U.S. multiemployer pension funds, covering Teamsters across multiple industries (trucking, logistics, warehousing). Same structure but multi-industry scope makes it a broader incumbent peer rather than a vertical-equivalent match.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/national-elevator-industry-fund-office-employees-db-pension-plan

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

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 Elevator Industry Benefit Plans