BENEFITS & COSTS
IBEW Local 204
Summary of Benefits & Costs
Benefits are made available to full time, actively working Members of IBEW Local 204.
FOR QUICK AND EASY ENROLLMENT CALL (224) 770−5305 (Mon-Fri 8am-5pm CT).
Short-Term Disability (STD)
- STD Option A: coverage is available from $200-$500 in $50 increments for up to 11 weeks
– Pays after day 14 for injury or illness - STD Option B: pays a weekly benefit of 60% of pre-disability earnings for up to 11 weeks
– Pays after day 14 for injury or illness - STD Option C: pays a weekly benefit of 60% of pre-disability earnings for up to 13 weeks
– Pays after day 1 for injury and after day 7 for illness - Pre-existing conditions are covered after 12 months
- Covers off the job disabilities resulting from injury or illness
- Benefits paid are tax-free
STD OPTION A – 14 DAY ELIMINATION PERIOD / 11 WEEKS OF BENEFIT
| Weekly Benefit | Monthly Premium | |||||||||||||||||
| Age < 30 | Age 30 – 39 | Age 40 – 49 | Age 50 – 59 | Age 60 – 69 | ||||||||||||||
| $200 | $12.20 | $12.80 | $17.60 | $27.80 | $36.80 | |||||||||||||
| $250 | $14.50 | $15.25 | $21.25 | $34.00 | $45.25 | |||||||||||||
| $300 | $16.80 | $17.70 | $24.90 | $40.20 | $53.70 | |||||||||||||
| $350 | $19.10 | $20.15 | $28.55 | $46.40 | $62.15 | |||||||||||||
| $400 | $21.40 | $22.60 | $32.20 | $52.60 | $70.60 | |||||||||||||
| $450 | $23.70 | $25.05 | $35.85 | $58.80 | $79.05 | |||||||||||||
| $500 | $26.00 | $27.50 | $39.50 | $65.00 | $87.50 | |||||||||||||
STD OPTION B – 60% BENEFIT / 14 DAY ELIMINATION PERIOD / 11 WEEKS OF BENEFIT
| Annual Earnings | Weekly Benefit | Monthly Premium | ||||||||||||||||
| $50,000 | $576.92 | $51.63 | ||||||||||||||||
| $60,000 | $692.31 | $61.96 | ||||||||||||||||
| $70,000 | $807.69 | $72.29 | ||||||||||||||||
| $80,000 | $923.08 | $82.62 | ||||||||||||||||
| $90,000 | $1,038.46 | $92.94 | ||||||||||||||||
| $100,000 | $1,153.85 | $103.27 | ||||||||||||||||
STD OPTION C – 60% BENEFIT / 1/7 DAY ELIMINATION PERIOD / 13 WEEKS OF BENEFITS
| Annual Earnings | Weekly Benefit | Monthly Premium | ||||||||||||||||
| $50,000 | $576.92 | $60.58 | ||||||||||||||||
| $60,000 | $692.31 | $72.69 | ||||||||||||||||
| $70,000 | $807.69 | $84.81 | ||||||||||||||||
| $80,000 | $923.08 | $96.92 | ||||||||||||||||
| $90,000 | $1,038.46 | $109.04 | ||||||||||||||||
| $100,000 | $1,153.85 | $121.15 | ||||||||||||||||
Annual earnings include your total compensation for the year including overtime. Benefits are subject to offsets.
Life and Accidental Death & Dismemberment (AD&D)
- 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
- Members can elect either $10,000 or $20,000 for themselves. (Spousal and child coverage available if Member life coverage is elected)
- Spousal coverage is either $5,000 or $10,000, not to exceed 100% of Member election
- Children eligible for a flat $10,000 of coverage. One fee of $2.40 covers all dependents.
- Life coverage is convertible & portable
LIFE / AD&D BENEFITS & MONTHLY PREMIUMS
Member Benefit (Elected in increments of $10,000)
| Benefit | Age < 30 |
Age 30-34 | Age 35-39 | Age 40-44 | Age 45-49 | Age 50-54 | Age 55-59 | Age 60-64 | Age 65-69 | |||||||||
| $10,000 | $1.40 | $1.40 | $1.70 | $2.50 | $4.00 | $6.00 | $10.10 | $12.30 | $18.40 | |||||||||
| $20,000 | $2.80 | $2.80 | $3.40 | $5.00 | $8.00 | $12.00 | $20.20 | $24.60 | $36.80 | |||||||||
Spouse Benefit (Elected in increments of $5,000. Based on Member age. Not to exceed 100% of Member’s Life election)
| Benefit | Age < 30 |
Age 30-34 | Age 35-39 | Age 40-44 | Age 45-49 | Age 50-54 | Age 55-59 | Age 60-64 | Age 65-69 | |||||||||
| $5,000 | $0.70 | $0.70 | $0.85 | $1.25 | $2.00 | $3.00 | $5.05 | $6.15 | $9.20 | |||||||||
| $10,000 | $1.40 | $1.40 | $1.70 | $2.50 | $4.00 | $6.00 | $10.10 | $12.30 | $18.40 | |||||||||
Child(ren)
| Benefit | Age < 30 |
Age 30-34 | Age 35-39 | Age 40-44 | Age 45-49 | Age 50-54 | Age 55-59 | Age 60-64 | Age 65-69 |
| $10,000 | All children/dependents are covered at one cost of $2.40 | ||||||||
Call (224) 770−5305 to get premiums not listed above.
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.
(224) 770−5305