Sisters and Brothers,

The Electrical Workers Local Union 159 Retirement Plan is committed to helping you save for your retirement. As a part of that commitment, your Plan includes a 401(k) feature that allows you to contribute a portion of your compensation to the plan. Under the SECURE 2.0 Act of 2022, the Plan is required to begin automatically enrolling participants in the Plan's 401(k) feature beginning January 1, 2025.

As of January 1, 2025, all Plan participants who have not made an election to either (1) contribute to the Plan or (2) opt-out of the plan's 401(k) feature will be automatically enrolled in the Plan's 401(k) feature at a rate of 10% of your compensation. To avoid being automatically enrolled in the Plan, you must make an alternate election by submitting the linked election form to IBEW Local 159 by December 15th.

At this time there is no employer match to 401(k) contributions.

This has no impact on your 25% defined contribution pension that is already in effect.

If you have already submitted the form please disregard this message.

The form can be accessed here.

Completed forms must be submitted by mail/fax/email to:

IBEW Local Union 159

5303 Fen Oak Drive

Madison WI 53718,

Fax #608-255-3014,

or email to 401k@ibew159.org.

Thank you,

IBEW Local 159