Annuity
What You Need to Know
The Elevator Constructors Annuity and 401(k) Retirement Plan (the “Plan”) is designed to supplement the retirement income you may receive from the National Elevator Industry Pension Plan and Social Security. This is a great way for you to save for a more financially secure retirement.
When you’re eligible to participate in the Plan, an Individual Account is established for you. Your Individual Account has three parts:
- An Annuity Account, to which your employer contributes on your behalf
- A 401(k) Account, to which you may contribute and choose how to invest your contributions
- A Rollover Account, into which you can deposit your money from another employer’s or multiemployer’s tax-qualified retirement plan
Check your annual statement to track all your retirement benefits!
Each year, you’ll receive a statement showing your estimated retirement benefits from all NEI retirement plans—your Pension, Annuity, and 401(k)—at various retirement ages. This video explains how to read your annual retirement statement.
Highlights of the Annuity Plan »
Highlights of the 401(k) Plan »
When You Can Take Your Money From the Annuity and 401(k) Retirement Plan »
