ELECTRICIANS ANNUITY PLAN – IBEW LOCAL 456 Contribution & Employer Match
How ELECTRICIANS ANNUITY FUND IBEW LOCAL 456 Supports Your Retirement Savings
ELECTRICIANS ANNUITY FUND IBEW LOCAL 456 provides retirement savings benefits through ELECTRICIANS ANNUITY PLAN – IBEW LOCAL 456. Understanding your employer’s contribution structure is essential — it directly affects how quickly your retirement nest egg grows. Below you will find the plan’s average account values and contribution patterns based on publicly filed data.
ELECTRICIANS ANNUITY PLAN – IBEW LOCAL 456 Average Participant Retirement Account Value
* Data are from public filings.
Employer Match in ELECTRICIANS ANNUITY PLAN – IBEW LOCAL 456
An employer match is one of the most valuable benefits in any 401(k) plan — it is essentially free money added to your retirement savings. Your employer contributes additional funds based on a percentage of your own contributions. Missing out on the full match is one of the most common and costly retirement mistakes employees make.
ELECTRICIANS ANNUITY PLAN – IBEW LOCAL 456 Estimated Average Employer Match
Investing in this additonal $7,686.00 for 20 years would give you extra $491,960.00, assuming a 10% annual return.
* Data are from public filings.
Are You Leaving Dollars on the Table?
If you are not contributing enough to capture the maximum employer match, you are literally turning down part of your compensation. For many plans, this can mean thousands of dollars per year in lost employer contributions — money that would compound over decades.
Use the policy details and calculator below to find out exactly how much you need to contribute to capture every dollar of employer matching.
ELECTRICIANS ANNUITY PLAN – IBEW LOCAL 456 Contribution & Match Policy
ELECTRICIANS ANNUITY PLAN – IBEW LOCAL 456 Contribution, Match and Other Plan Policies
- Contributing employers are required to make contributions to the Plan on behalf of each participant on the basis of a rate fixed by the applicable collective bargaining agreement in effect.
- The contribution rates vary depending on the level of benefits negotiated.
- The rates of contribution vary between 17% of gross labor payroll for a journey wireman and 6.5% of gross labor payroll for small works employees.
- Prior to June 2023, the journey wireman rate was 18%.
- Plan participants are not required to contribute to the Plan.
- A participant shall always have a 100% vested right to their account.
2025 IRS 401(k) Contribution Limits
The IRS sets annual limits on how much you and your employer can contribute to a 401(k) plan. Knowing these limits helps you maximize tax-advantaged savings. Here are the current limits:
| 2024 | 2025 | |
|---|---|---|
| Employee elective deferrals (pretax + Roth) | $23,000 | $23,500 |
| Employee + employer contributions combined | $69,000 | $70,000 |
| Catch-up contributions (age 50+) | $7,500 | $7,500 |
| Enhanced catch-up (ages 60–63, SECURE 2.0) | N/A | $11,250 |
The power of maxing out: If you contribute the full $23,500 annually for 20 years at a 10% average annual return, you would accumulate approximately $1,505,256. If you can maximize the combined employee+employer limit of $70,000 per year, that grows to roughly $4,480,385 over the same period — more than triple.
Use the 401(k) Savings Calculator to model your specific contribution scenario and see how your savings can grow over time.
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