Money collected by the IBEW is divided into which two funds?

The money collected by the IBEW is divided into two primary funds: the General Fund and the Pension Benefit Fund. The General Fund is utilized for the operational expenses of the IBEW, encompassing costs such as administration, representation, member services, and various programs designed to support the union's activities and its members.

On the other hand, the Pension Benefit Fund is dedicated to providing retirement benefits to members. This fund ensures that IBEW members have financial support when they retire after years of service in the electrical industry. The distinction between these two funds is crucial, as it directly affects the financial health and sustainability of both the union and the benefits promised to its members. Properly managing these funds is essential for the union's ongoing viability and its ability to fulfill obligations to its members, especially regarding retirement and pension benefits.