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701 E. Tudor
Suite 200
Anchorage, AK 99503

 

The information contained on this website is intended to be a summary only.  In case of a difference, actual Plan Provisions will apply.  Always refer to your Summary Plan Description for details.

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About The Alaska Electrical Trust Funds

Trust History

In 1968, Tom Hackett as Business Manager for IBEW and George Seaman as Chapter Manager for NECA negotiated for electrical construction employers to contribute 35¢ an hour into a pension plan for IBEW Local 1547 members. Not all members were happy about this at the time — many wanted to keep the money on their checks, and a vote was required. Julius Kornfeind, Ike Waldrop and others lobbied extensively for the plan, and the membership voted it in.

Pattye Taylor (formerly Pattye Anderson) cut the first monthly pension check for $131.96 in 1969 to Verne McCain, our first retiree. Today, the Trust pays over $6,600,000 a month in retirement benefits to over 3,000 retirees and beneficiaries. As it turns out, the early leaders were visionaries, constructing a plan that has grown in 30 years to become one of the best in the country.
 

At Your Service

While you’ve been hard at work building Alaska, we have been at your service for more than 30 years. Since the Trust Funds’ beginnings in the 1960s, benefits have become an increasingly valuable investment in your financial well being, both during your working years and beyond. We are committed to providing benefits that meet your needs in the present and remain financially secure in the future. Your trustees work for you – to bring you retirement, health and welfare and legal assistance benefits that work for you and your families.
 

Still Growing After All These Years

Since the IBEW Local 1547 members voted in the pension plan in 1968, the Pension Fund has grown in total assets to more than $1,625,000,000 and a total membership of approximately 6,800. The growth and financial stability of the Pension Trust have given us the opportunity to often make plan improvements to benefit you, our members.
 

Putting You In Charge of Your Future

The Trustees designed the Money Purchase Plan to give you the opportunity to build on the solid financial foundation provided to you by the Pension Plan. The Money Purchase Plan is the part of the Alaska Electrical retirement program that gives you choices about how you want to save for the future. The plan offers a variety of investment options, in which you choose your investments from a portfolio of professionally managed investment funds.

Adapting to Your Needs

The Alaska Electrical Health and Welfare Fund provides a safety net for you and your family through its comprehensive coverage – medical, dental, vision, life and disability. Over time, the Fund has adapted to the changing needs of our membership, but our strong commitment to the Fund has remained a constant – providing some of the most competitive coverage in Alaska.
 

Providing You Resources

The Trustees recognize there are times when expert legal assistance could be critical to you and your family. Our Legal Fund saves you time by connecting you with appropriate legal resources and consultations. And it saves you money by providing you and your family benefits to help cover your legal expenses.
 

Making Your Life Easier

This website was created with one goal in mind – to expand our service to members. We’re committed to making it simpler for you and your family to use and understand your benefits – whether that’s in person or on the phone. We’re here to help with your questions, and we welcome your suggestions and comments on how we can continue to enhance our services to you and your family.

The Administrative Offices does not imply approval of linked sites, warrant the accuracy of any information set out in those sites or endorse any material/product described and/or offered therein. All websites operate under the auspices and at the direction of their respective owners, who should be contacted directly with any questions regarding the content of these sites.

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