Welcome to the Preparing for Retirement Tool Box! Below are multiple resources and tools to not only help you when it's time to retire, but also help you prepare months and years in advance. Remember, it's never too early to start planning for retirement and these tools can be utilized by Local 494 members of all ages.
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Electrical Construction Industry Plans (ECI) is the administrator of several of your Union benefits, including your Local Pension, Annuity, Prefunding, and Vacation/Holiday.
ECI's website contains FAQs, Summary Plan Descriptions, and other important documents for each benefit to help you understand and navigate your benefits throughout your career and includes your ECI MEMBER XG account; an invaluable tool to track your monthly ECI benefits' deposits and payments.
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The NECA-IBEW Welfare Trust Fund is the provider of your health insurance and HRA. It can not be stressed enough that members enrolled in NECA-IBEW Welfare benefits stay current and informed on all current and future benefits no matter your age or station in life.
Please access the information below, including NECA-IBEW MEMBER XG where you'll find your healthcare information such as Beneficiary; Eligibility; EOBs; Data Card and more.
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John Hancock is the chosen retirement plan for Local 494's Annuity/401k fund. Access to your account can be used to choose how you want your money invested according to your retirement goals, but John Hancock offers so much more...
Once you're logged into your John Hancock account, you'll have access to multiple financial tools such as informative topics; financial wellness plans; investment strategies; and retirement planning, just to name a few.
Click here to access the John Hancock Retirement website or download the John Hancock Retirement App.
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Award winning Francis has been partnering with IBEW Local 494 for several years, offering financial education for members of all ages and stations in life. Members should always be on the lookout for seminars, both in-person and online, covering a wide range of topics, from personal budgeting to retirement and everything in between, as you progress through life.
Occasionally, Francis contributes informative and valuable articles to the Relay that can be useful to all members. Below is a sampling of past contributions from Francis.
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'Health Care Affordability Pressures Persist for Privately Insured Americans, Prompting Cuts to Spending, Retirement Saving and Delayed Care'
-EBRI Press Release- March 2, 2026
The Employee Benefit Research Institute reports on the increasing rise in healthcare costs' effects on working families and steps being taken to combat it.
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WAIT, THERE'S MORE!
Click on any of the below John Hancock educational topics featured in Local 494's Relay.
Saving Goals Long Term Investing Strategies
Maintaing Your Fund in Retirement Budgeting
Retirement Plan Tool Kit Target Date Funds
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IBEW Local 494 Business Manager, John Jacobs, has recently become somewhat of an internet sensation!
John stars in a series of informative videos discussing content on numerous Union subjects designed to educate the members of Local 494. Not surprisingly, these videos have reached far beyond Local 494 members, receiving praise from a variety of Union members across the U.S.
Below is a select choice of John's videos that discuss Local 494 benefits and how they work.
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Time money calculator |
Read (or re-read) these archived Relay articles that continue to hold relevance, keeping you informed of benefits announcements, changes, and resources to help you navigate your long-term financial plans.
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The oft forgotten pension, NEBF, is a key benefit to consider when planning your future retirement. The National Electrical Benefit Fund is one of three pensions many Local 494 members enjoy. The NEBF is a NECA-IBEW collaborative fund offered to IBEW members nationwide.
The NEBF pension is administered exclusively through the NEBF office located in Maryland. Its website is very user-friendly, providing a personal inbox, documents, and instant benefit estimates any time throughout your career. Create your online account now!
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The Electrical Worker is the official publication of the IBEW. Click the logo above to visit The Electrical Worker home page, and explore current news affecting your career; or click on one of the select articles below that may help shape your career, retirement, and life as an IBEW member.
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'Record U.S. Life Expectancy Raises Bar for Retirement Readiness'
-401K Specialist Magazine- February 3, 2026
401K Specialist Magazine explains how assumptions about life expectancy can dramatically affect retirement strategies.
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Page Last Updated: Mar 06, 2026 (08:59:08)
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