What percentage do employers contribute to the NEBF?

• A. 1%
• B. 2%
• C. 3%
• D. 4%

Answer: (C)

The main idea is how benefit funds are funded: employers contribute a portion of payroll to support workers’ retirement benefits. For the National Elevator Industry Benefit Fund, the standard contribution rate used in many industry agreements is 3 percent of gross wages for each covered employee. This rate is what employers remit to NEBF to fund retirees’ benefits, and it’s the figure most commonly specified in contracts. Rates like 1% or 2% are generally too low to sustain the plan, while 4% is higher than the typical negotiated figure, though some contracts could vary. The takeaway is that NEBF contributions are payroll-based, and 3% is the typical employer contribution.