What is NEAP?

NEAP is a defined contribution plan that provides retirement and related benefits to employees in the electrical industry. In a defined contribution plan, you are assigned an Individual Account. Contributions are made to your Individual Account by NEAP Covered Employers. The balance of your Individual Account is the total of contributions received and adjustments due to NEAP's investment performance. Your benefit amount is based upon the balance in your Individual Account at the time your application is approved.

What Is An Individual Account?

NEAP establishes and maintains a separate account in your name; all contributions made on your behalf are credited to your Individual Account. The balance of your Individual Account is adjusted each month to reflect the results of NEAP's investment performance.

Quarterly, NEAP will mail a statement to you showing the balance of your Individual Account for the previous quarter. This statement will also show all contributions made to NEAP on your behalf and your Individual Account's investment performance. You can obtain an update of the balance of your Individual Account by submitting a signed request to NEAP.