Wage & Welfare Bond - Joint Industry Board of the Electrical Industry in New York

Brief Summary

Contractors who employ IBEW Local 3 electricians owe wages plus a long list of employer-paid benefit contributions reported to the Joint Industry Board. This bond guarantees those payments. It is a separate bond from the JIB Payroll Deductions bond, and a surety bond lets you meet the requirement without parking cash.

The Wage & Welfare bond guarantees that a contractor employing IBEW Local Union No. 3 members pays wages and the employer benefit contributions listed on the Joint Industry Board benefit charts, such as pension, annuity, dental, 401k, HRA and NEBF. The Joint Industry Board of the Electrical Industry is the obligee. Confirm the current amount, bond form and filing steps with the JIB before the bond is issued.

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How to Apply for a Wage & Welfare Bond:

• Ask the Joint Industry Board for the wage and welfare bond amount that applies to your firm.
• Confirm whether the JIB also requires the separate Payroll Deductions bond from your firm.
• Get the exact obligee wording and any required bond form from the JIB.
• Use the contractor's exact legal name as registered with the JIB.
• Complete the bond application with owner and company information for underwriting.
• Deliver the signed bond to the JIB as directed and keep a copy on file.

Detailed Information About the New York Wage & Welfare Bond:

This is not the payroll deductions bond

The JIB listing carries two bonds. This Wage & Welfare bond covers wages and the benefit contributions the employer pays on top of wages. The Payroll Deductions bond covers money withheld from employees' paychecks, such as the Local 3 dues assessment and 401k deferral. Ask the JIB whether your firm needs one or both.

What the bond backs

The 2026 Benefit Chart for NYC, with payroll changes effective week ending April 22, 2026, lists the employer contributions for the construction division:

• Pension and Major Medical
• Dental Fund
• 401K
• Annuity
• Health Reimbursement Account
• E & C
• NEBF and NEIB
• Wage and Benefit Fund, Job Target, Welfare and Annuity
• EESISP
• NYECA

The JIB posts separate charts for the J Division, Outside Utility, White Plains, Residential Wiring and Tele-Data divisions, so use the chart for the work your crews perform.

Who the obligee is

The Joint Industry Board of the Electrical Industry was founded on March 30, 1943 by IBEW Local Union No. 3 and the National Electrical Contractors Association. It administers the industry's health, pension, 401k, annuity and training plans. Its chairman sues delinquent contractors in federal court as plan fiduciary, as in Finkel v. MJC Electric Inc. in the Eastern District of New York.

The federal law behind a claim

Under ERISA, 29 U.S.C. 1145, an employer bound by a collective bargaining agreement must make contributions on the terms of that agreement. When a plan sues and wins, 29 U.S.C. 1132(g)(2) awards the unpaid contributions, interest, the greater of a second interest amount or the plan's liquidated damages, and reasonable attorney fees and costs. The bond gives the JIB a source to collect from when a contractor cannot pay.

Before the bond is issued

The amount, bond form and delivery steps come from the JIB. Get the required amount and obligee wording in writing and order the bond to match.

Eligibility and Requirements for a New York Wage & Welfare Bond:

• Employer of IBEW Local Union No. 3 members reporting to the Joint Industry Board.
• Joint Industry Board of the Electrical Industry named as obligee.
• Bond condition: payment of wages and the employer contributions on the JIB benefit chart for your division.
• Payroll reported to the JIB through its electronic remittance system.
• Bond amount and form acceptable to the JIB.

New York Wage & Welfare Bond FAQs:

Official and Additional Resources for the New York Wage & Welfare Bond: