(224) 770−5305

BENEFITS & COSTS

IBEW Local 2

Summary of Benefits

Coverages are guaranteed approved for all actively working/dues paying Members of IBEW Local 2.

For quick and easy enrollment, call (224) 770−5305 (Mon-Fri 8am-5pm CT)

  Short-Term Disability (STD)

  • Option A: coverage is available from $200-$500 in $50 increments
    – Pays on day 30 for up to 22 weeks
  • Option B: coverage is available from $200-$500 in $50 increments
    – Pays on day 15 for up to 24 weeks
  • Pre-existing conditions are covered after 12 months
  • Covers off the job disabilities resulting from injury or illness
  • Stackable with other benefits up to 100% of pre-disability earnings
  • Benefits paid are tax-free

STD OPTION A – FLAT RATES – 30 DAY MONTHLY PREMIUMS

Weekly Benefit Age < 30 Age 30 – 39 Age 40 – 49 Age 50 – 59 Age 60 – 69
$200 $10.20 $16.00 $23.00 $36.20 $53.00
$250 $12.00 $19.25 $28.00 $44.50 $65.50
$300 $13.80 $22.50 $33.00 $52.80 $78.00
$350 $15.60 $25.75 $38.00 $61.10 $90.50
$400 $17.40 $29.00 $43.00 $69.40 $103.00
$450 $19.20 $32.25 $48.00 $77.70 $115.50
$500 $21.00 $35.50 $53.00 $86.00 $128.00

STD OPTION A – FLAT RATES – 15 DAY MONTHLY PREMIUMS

Weekly Benefit Age < 30 Age 30 – 39 Age 40 – 49 Age 50 – 59 Age 60 – 69
$200 $13.00 $19.00 $27.00 $43.00 $63.00
$250 $15.50 $23.00 $33.00 $53.00 $78.00
$300 $18.00 $27.00 $39.00 $63.00 $93.00
$350 $20.50 $31.00 $45.00 $73.00 $108.00
$400 $23.00 $35.00 $51.00 $83.00 $123.00
$450 $25.50 $39.00 $57.00 $93.00 $138.00
$500 $28.00 $43.00 $63.00 $103.00 $153.00

  Long-Term Disability (LTD)

  • LTD Option A pays a flat $2,000 monthly benefit for up to 2 years
  • LTD Option B pays a monthly benefit of 60% of your pre-disability earnings for up to 2 years
    – Pays after 180 day waiting period
  • LTD Option C pays a monthly benefit of 60% of your pre-disability earnings for up to 5 years
    – Pays after 180 day waiting period
  • Pre-existing conditions are covered after 12 months
  • Coverage is 24/7 on and off the job for disabilities resulting from injury or illness
  • Offset by other benefits
  • Benefits paid are tax-free

LTD OPTION A (FLAT RATE) MONTHLY PREMIUMS*

Monthly Benefit Age < 30 Age 30 – 39 Age 40 – 49 Age 50 – 59 Age 60 – 69
$2,000 $6.00 $9.00 $15.00 $29.00 $53.00

*Pays a flat monthly benefit of $2,000 for up to 2 years unless salary is below $40K. Cannot exceed 60% of pre-disability earnings.

LTD OPTION B (60% BENEFIT FOR UP TO 2 YEARS) MONTHLY PREMIUMS**

Annual Earnings Monthly Benefit Age < 30 Age 30 – 39 Age 40 – 49 Age 50 – 59 Age 60 – 69
$50,000 $2,500 $6.75 $10.50 $18.00 $35.50 $65.50
$60,000 $3,000 $7.50 $12.00 $21.00 $42.00 $78.00
$70,000 $3,500 $8.25 $13.50 $24.00 $48.50 $90.50
$80,000 $4,000 $9.00 $15.00 $27.00 $55.00 $103.00
$90,000 $4,500 $9.75 $16.50 $30.00 $61.50 $115.50
$100,000 $5,000 $10.50 $18.00 $33.00 $68.00 $128.00

LTD OPTION C (60% BENEFIT FOR UP TO 5 YEARS) MONTHLY PREMIUMS*

Annual Earnings Monthly Benefit Age < 30 Age 30 – 39 Age 40 – 49 Age 50 – 59 Age 60 – 69
$50,000 $2,500 $9.25 $19.25 $40.50 $90.50 $128.00
$60,000 $3,000 $10.50 $22.50 $48.00 $108.00 $153.00
$70,000 $3,500 $11.75 $25.75 $55.50 $125.50 $178.00
$80,000 $4,000 $13.00 $29.00 $63.00 $143.00 $203.00
$90,000 $4,500 $14.25 $32.25 $70.50 $160.50 $228.00
$100,000 $5,000 $15.50 $35.50 $78.00 $178.00 $253.00

**Annual earnings include your total compensation for the year including overtime. Benefits are subject to offsets.

  Life and Accidental Death & Dismemberment (AD&D)

Please note that Life/AD&D guaranteed amounts may be lower or not offered at future open enrollments for Members who do not enroll initially.

  • Guaranteed coverage for Member/spouse/children—no pre-existing condition limitations
  • All Life coverage includes an equal amount of AD&D
  • If death is caused by an accident the benefit doubles
  • Member coverage is available from $10,000-$150,000 (in $10,000 increments—spousal and child coverage available if Member life coverage is elected)
  • Spousal coverage is available from $5,000-$50,000 (in $5,000 increments, not to exceed 100% of Member’s election)
  • Children eligible for a flat $10,000 of coverage. One fee of $2.40 covers all dependents.
  • Life coverage is convertible & portable
  • Coverage is 24/7 on and off the job

LIFE AND AD&D BENEFITS & MONTHLY PREMIUMS

Member (Elected in increments of $10,000)

Benefit Age < 30 Age 30 – 39 Age 40 – 49 Age 50 – 59 Age 60 – 69
$10,000 $3.60 $4.00 $6.00 $10.10 $19.50
$50,000 $10.00 $12.00 $22.00 $42.50 $89.50
$100,000 $18.00 $22.00 $42.00 $83.00 $177.00
$150,000 $26.00 $32.00 $62.00 $123.50 $264.50

Spouse (Elected in increments of $5,000. Based on Member age. Not to exceed 100% of Member’s Life election)

Benefit Age < 30 Age 30 – 39 Age 40 – 49 Age 50 – 59 Age 60 – 69
$5,000 $2.80 $3.00 $4.00 $6.05 $10.75
$25,000 $6.00 $7.00 $12.00 $22.25 $45.75
$50,000 $10.00 $12.00 $22.00 $42.50 $89.50

Child(ren)

Benefit Age < 30 Age 30 – 39 Age 40 – 49 Age 50 – 59 Age 60 – 69
$10,000 All children/dependents are covered at one cost of $2.40

Call (224) 770−5305 to get premiums not listed above.

Time Left to Enroll

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Enrollment Ends 6/24/2022
Coverage Begins 7/1/2022

IMPORTANT NOTE: If you leave the union or retire it is your responsibility to contact our office immediately at (847) 387-3555. Failure to do so within 30 days will forfeit your ability to keep coverage and receive any premium refunds. Premium is determined by your age on the coverage effective date, and will increase on the next policy anniversary date after you enter the next age band. Benefit effective dates are subject to change. The union does not make any endorsement or recommendations regarding these benefits. This program is voluntary and it is solely the Members’ decision to enroll. Members are responsible for paying their own premiums. This is a basic summary of benefits and makes no guarantee or warranty on the processing of claims. Other limitations may apply. It is recommended that each enrolled Member obtain a copy and read the entire policy booklet. All non-banking administrative and transaction fees are included in the enclosed premiums.