NECA CEO Joins NEBB As Trustee
On April 15, the first National Electrical Benefit Fund (NEBF) board of trustee's meeting with four trustees was held. National Electrical Contractors Association (NECA) CEO John Grau and International Brotherhood of Electrical Workers (IBEW) President Ed Hill were recently appointed to join trustees Sam Chilia (IBEW Secretary-Treasurer) and Rod Borden (former NECA president). Below is the July 1, press release.
FOR IMMEDIATE RELEASE: July 1, 2014
National Electrical Annuity Plan Fund Strengthens Leadership
Board Adds Additional Trustees
Washington, D.C. – The National Employees Benefit Board (NEBB) announced the addition of two new trustees of the National Electrical Annuity Plan (NEAP) effective June 22. Edwin D. Hill, president of the International Brotherhood of Electrical Workers (IBEW), and John M. Grau, chief executive officer of the National Electrical Contractors Association (NECA), will join Salvatore J. Chilia of the IBEW and D.R. Borden, Jr. of NECA as trustees of the fund.
The NEAP is a defined contribution plan designed to provide retirement and related benefits of employees in the electrical industry. The NEAP serves over 94,300 participating individuals, with more than 1,193 contributing employers. Based in Rockville, MD, the NEAP recently surpassed $5 billion in assets for the first time since it’s founding in 1973. The plan also boasts one of the lowest expense ratios in the industry.
Earlier this year, Hill and Grau were added as trustees of the National Electrical Benefit Fund (NEBF) in order to strengthen the administration of the plan and reaffirm both sponsoring organizations’ commitment to providing a secure retirement for employees in the electrical industry. Adding them as trustees of the NEAP provides a consistent structure to the administration of the two largest plans overseen by the NEBB.
Both Hill and Grau previously served as trustees of the NEAP, bringing a combined quarter century of experience to the job.
For further information: John Good, 202 496 1244