Happy New Year!
Gina M. Alongi, Administrator
The International Union of Operating Engineers Local 4 Benefit Funds Office proudly serves the men and women of Local 4 and their families. We know how hard you work, and we value the skill and dedication you bring to your craft. You deserve the very best health care and retirement, and my staff and I come to work every day with the goal of exceeding your expectations.
In my nearly 20 years as the Funds' Administrator, the steady leadership of our Trustees and the contribution income generated by your labor have combined to allow the Funds to build a foundation under your feet that grows stronger each year.
The Health and Welfare Plan has been able to enhance benefits over time, such as lowering the number of hours required for eligibility, lowering copays and deductibles, and providing a greater platform of benefits for our participants.
The Pension Plan's funded percentage has remained 80 percent or greater - the federal government's "green," or safest, zone - every year since such monitoring was enacted in 2006. Further, in the last 20 years, the Pension Plan Trustees have nearly tripled the accrual rate per pension credit, with further increases scheduled in 2015 and 2016.
The Annuity and Savings Plan provides Local 4 members with the opportunity to supplement their pensions in retirement through both employer and employee contributions.
We want you to have the peace of mind you need to do your important job: to construct our skyline, our infrastructure, and our community's hospitals and schools. We'll focus on building and administering your plan of benefits, and on being there to help keep you and your family healthly and financially sound. We have your back.
If you ever need anything from us, please call or email the Funds' Office. We stand ready and willing to help.