IBEW Local 40-NECA Variable Annuity Plan (3O)
Effective October 1, 2023, the VAP Plan was established under the collective bargaining agreement between Local Union No. 40 of the International Brotherhood of Electrical Workers and the Los Angeles County Chapter of the National Electrical Contractors Association.
The VAP Plan is a variable annuity defined benefit pension plan under federal law. It is designed to complement, not replace, the IBEW Local 40 – NECA 401(k) Plan, which is a defined contribution pension plan under federal law. You may already participate in the 401(k) Plan, and if so you will now be a participant in two local pension plans.
