The primary source of funding for the benefits provided by the Trust Funds are contributions to the Plans made by employers in accordance with their Collective Bargaining Agreements with the IUOE Local 4. The Benefit Funds Office is best known to its participants through the:
Health and Welfare Fund, which provides for a comprehensive insurance benefit plan for eligible members and their families.
Defined Benefit Pension Plan, which provides vested members and qualified surviving spouses with retirement benefits for life.
Annuity and Savings Plan, which provides an additional way to prepare for retirement through a profit sharing plan with a 401(k) component.
Operating Engineers possess a diverse set of skills. The most visible of our members are found in the operation and maintenance of heavy construction equipment such as cranes, front-end loaders, excavators, backhoes, and forklifts. Less obvious, but no less important, are our members who work in site survey, and another large group working in quarries and equipment houses.
Operating Engineers, virtually all from our Local Union, operated all of the cranes and heavy equipment used to construct Boston’s Big Dig. While the Central Artery/Tunnel project was the largest public works construction project in our nation’s history, and nearly one thousand members were employed at its peak (summer of 2000), the overwhelming majority of our members work for our two hundred fifty employers and never set foot on the ‘Dig.’
Members' dues finance the work of our Union and keeps Local 4 vital. In addition to providing a wide array of family benefits, we represent and protect our members and their families through Collective Bargaining Agreements with our four major Employer Associations and our several hundred independently signed Contractors.