Announcements
Updates and announcements for I.B.E.W. Local 332 members
OPEN ENROLLMENT
I.B.E.W. LOCAL 332 PROFIT SHARING PLAN
Members working for employer’s signatory to the Inside Agreement under the jurisdiction of I.B.E.W. Local Union No. 332 are eligible to elect to defer, on a pre-tax basis, part of your income into a 401(k) account established for you under the Profit Sharing Plan. To participate in the 401(k) feature of the Profit Sharing Plan, or to change your current withholding rate, file this election form with Local Union 332’s office by December 15, 2022. For your convenience, you can mail the form to the Union Hall in the enclosed self-addressed envelope. The Union Hall will then forward a copy of the form with your newly elected rate to your employer. Your newly elected withholding rate will become effective with hours paid commencing January 1, 2023.
- If you are NOT changing your existing rate, DO NOT submit this form
- 1st and 2nd Period Apprentices are NOT eligible to participate in the 401(k) until their 3rd pay period.
- Please note if hours are being reciprocated to another local, you are NOT eligible to participate in the 401(k) Plan.
The next Open Enrollment period will be in June 2023 for an effective date of July 1, 2023 hours worked. Should you have any questions, please contact the Union Hall at (408) 269-4332.
Upcoming Events
You are invited to an Educational Workshop on the I.B.E.W. Local 332 401(k) – Part B
Thursday, November 17th, from 6:00 p.m. – 7:30 pm
Areas that will be covered:
- Benefits of Plan Participation
- Risk & Return
- Diversification
- Inflation & Taxes
- Investment Choices
- Plan Distributions
Please join Mike Vukson, CFP®, CIMA®, AIF® for an Educational Workshop. Mike is the Investment Consultant on your 401(k) and a Financial Advisor with Wells Fargo Advisors
Location: I.B.E.W. Local 332 Headquarters Meeting Hall
2125 Canoas Garden Avenue, San Jose, California 95125
Spouses encouraged to attend
Our Story
Known for its dynamic membership & its leadership in implementing the progressive technology that has shaped Silicon Valley.
Established in 1912, the International Brotherhood of Electrical Workers Local 332 is located in the heart of Silicon Valley. It is one of the largest I.B.E.W. Local Unions in Northern California with over 2,700 members.
Our Plans
We understand the administration of employee benefits
The Plan contracts with Anthem Blue Cross to obtain access to certain Preferred Provider Organization (PPO) providers
Group #170017
As an alternative to the Self-Funded Medical benefits, you may elect medical coverage through Kaiser.
Group. #780
Pension
The Board of Trustees of the I.B.E.W. Local 332 Pension Trust Funds is dedicated to making the Funds more accessible and friendlier to Participants.
The Trust Fund sponsors two plans: the Defined Benefit Plan and the Defined Contribution & 401k Plan. The amount of benefits you receive, and your eligibility for certain rights under the Plan, depends on how much Benefit Credit you have accrued.