How Are Contributions Made?
Contributions are made each month by Covered Employers on behalf of employees who are covered by either:
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A Collective Bargaining Agreement with the International Brotherhood of Electrical Workers (IBEW) or one of its Local Unions, or
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A signed Participation Agreement with NEAP.
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In addition to contributions made by your employer, NEAP may also accept other contributions in the form of Rollover Contributions, asset transfers and Reciprocal Transfers from other qualified plans.
How Much Does My Employer Contribute to 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 signed by your employer determines the amount your employer contributes to NEAP on your behalf.
Can I Contribute to NEAP?
No. All contributions to NEAP are made by Covered Employers. Covered employees do not themselves make contributions to NEAP. However, rollover contributions approved by NEAP may be added into the balance of your Individual Account.
For more information about building your account balance, see Life Stage Investments.
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