Pension Plan
Current Pension Credit (for periods after June 1, 1960)
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Current Pension Credit is granted for employment and for military service as follows:
Work as an Operating Engineer after June 1, 1960
Current Pension Credits are based on contributions made to the Plan by employers in accordance with a Collective Bargaining Agreement. In general, one Current Pension Credit is granted for each 1,000 hours (1/1000 of a Current Pension Credit for each hour of service) of employment for a contributing employer. However, if an employer contributes to the Plan at less than the master or standard rate for periods after June 1, 1968, Current Pension Credit will be granted at a rate less than one Current Pension Credit for each 1,000 hours of service. The following chart outlines the amount of contributions required for Current Pension Credit.
| From | Prior To | Contributions Required For One Full Current Pension Credit | Contributions Required for 1/1000th of a Current Pension Credit |
|---|---|---|---|
| June 1, 1968 |
July 1, 1970
|
$600
|
$0.60
|
| July 1, 1970 |
July 1, 1971
|
$800
|
$0.80
|
| July 1, 1971 |
July 1, 1972
|
$1,000
|
$1.00
|
| July 1, 1972 |
July 1, 1973
|
$1,200
|
$1.20
|
| July 1, 1973 |
July 1, 1975
|
$1,500
|
$1.50
|
| July 1, 1975 |
July 1, 1976
|
$1,750
|
$1.75
|
| July 1, 1976 |
July 1, 1978
|
$2,000
|
$2.00
|
| July 1, 1978 |
July 1, 1979
|
$2,300
|
$2.30
|
| July 1, 1979 |
July 1, 1980
|
$2,600
|
$2.60
|
| July 1, 1980 |
January 1, 1981
|
$2,650
|
$2.65
|
| January 1, 1981 |
February 1, 1982
|
$2,800
|
$2.80
|
| February 1, 1982 |
July 1, 1982
|
$2,950
|
$2.95
|
| July 1, 1982 |
July 1, 1983
|
$3,150
|
$3.15
|
| July 1, 1983 |
July 1, 1997
|
$3,350
|
$3.35
|
| July 1, 1997 |
July 1, 2000
|
$3,450
|
$3.45
|
| July 1, 2000 |
July 1, 2006
|
$3,750
|
$3.75
|
| July 1, 2006 |
July 1, 2007
|
$4,050
|
$4.05
|
| July 1, 2007 |
July 1, 2008
|
$4,550
|
$4.55
|
| July 1, 2008 |
July 1, 2009
|
$5,050
|
$5.05
|
| July 1, 2009 |
July 1, 2011
|
$5,550
|
$5.55
|
| July 1, 2011 |
July 1, 2023
|
$5,550
|
$5.55
|
| July 1, 2023 |
July 1, 2024
|
$6,050
|
$6.05
|
| July 1, 2024, and later |
$6,550
|
$6.55*
|
* This is the amount used for benefit accrual. The actual contribution rate paid by individual employers may be higher because it includes a surcharge in accordance with Federal law.
Current Pension Credit for Military Service
A Participant who served in the military and returns to civilian employment as an Operating Engineer for a contributing employer on or after December 12, 1994, will receive 3/100 of a Current Pension Credit for each calendar week of military service. Military service means both
voluntary and involuntary duty in the uniformed services of the United States and includes active duty, training (active and inactive), National Guard duty and periods when the Participant leaves civilian employment as an Operating Engineer for an examination to determine fitness for military service.
In order to receive this Current Pension Credit for military service, the Participant must provide to the Fund Office documents proving entitlement and must meet the following conditions:
- The Participant must work as an Operating Engineer for a contributing employer or be on the out-of-work list of the Union immediately before entering military service.
- The total of all absences for military service must be less than 5 years unless the additional service was required by the government to fulfill training requirements, to complete an initial period of service, or because the Participant was unable to obtain orders for release.
- The Participant must return to work as an Operating Engineer for a contributing employer or be available for work on the out-of-work list of the Union in accordance with the following timetable.
| Length of Service | Deadline to Return to Work or Out of Work List |
|---|---|
| Fewer than 31 days or for an examination to determine fitness to serve | 2nd work day following transportation from place of service to Participant’s residence |
| More than 30 but fewer than 180 days | 14 days after completion of service unless impossible or unreasonable through no fault of Participant and then next day possible |
| More than 180 days | 90 days after completion of service unless hospitalized or recovering from illness or injury from time in service and then when recovered. Maximum recovery period is two years unless circumstances beyond Participant’s control make it impossible or unreasonable and then time necessary is allowed to accommodate circumstances |
No hours are granted for military service if the Participant’s separation from service is a dishonorable or bad conduct discharge, under other than honorable conditions, by dismissal or by dropping the Participant from the military rolls.
Revised 07/2024