In 1977, the percentage contributed to the National Electrical Benefit Fund was increased to what value?

In 1977, the percentage contributed to the National Electrical Benefit Fund was increased to 3%. This change was significant as it reflected a response to the evolving needs of electrical workers, ensuring that adequate funds were available to support their pensions and benefits. Increasing the contribution rate allowed for better financial stability and improved the quality of benefits available to union members. The decision to raise it to 3% emphasizes the importance of maintaining a robust benefit system that can adapt to economic changes and the needs of workers in the electrical trade. This increase also indicated a recognition of the growing costs associated with providing adequate retirement and health care benefits for members, ensuring that the fund could sustainably support its beneficiaries over the long term.