Health and Welfare

Having quality health insurance for you and your dependents is a significant financial benefit.

During labor contract negotiations, local 9 negotiates a specific hourly benefit amount on your behalf for Health and Welfare benefits. Your employer contributes this fringe benefit amount for each and every hour you work into Local 9's Health and Welfare program for you and your dependents' health care coverage. This contribution which indicates the hours worked is submitted to the Administrative offices of local 9's Health and Welfare Program monthly. The Operating Engineers Health & Welfare Trust Funds managed by a joint Labor-Management Board of Trustees. You and your dependents become eligible for health care benefits (health insurance, prescription drug plan, dental insurance, and vision care) on the first day of the second calendar month following completion of having worked 375 hours. The Plan Administrator will mail you enrollment forms upon eligibility. It is imperative that these forms be completed and promptly returned in order to receive your medical identification cards. Each month 125 hours are deducted from your reported hours for the health care premium. The balance of your reported work hours are put into your "Hour Bank". This "Hour Bank" allows previously earned work hours to be used for the times that you may be unemployed. You may have a maximum of 500 hours in your "Hour Bank" before deduction of the current month's coverage.

A FULL SUMMARY PLAN DESCRIPTION WILL BE MAILED TO YOU ALONG WITH A HEALTH CARE CARD UPON REACHING ELIGIBILITY.

Access Your Benefit Information

Recognizing that you have health care benefits is one thing. Understanding your benefits and knowing how to use them is something different. The health care organizations that contract with the Fund and your Board of Trustees know all to well how important it is to keep you informed of what's going on with your Plan of benefits. In order to stay connected, here are some ways to access your benefit information.

• CIGNA Health Care ...........Provider......................1-800-768-4695

• Zenith Administrators.......Plan Administrator......1-877-363-5738

• Delta Dental........................Dental..........................1-800-610-0201

• Caremark...........................Prescriptions................1-800-966-5772

• Vision Service Plan...........Vision............................1-800-877-7195

PENSION

The Central Pension Fund gives Operating Engineers and their spouses a basic family financial protection plan that keeps working throughout a lifetime. This fund is the 5th largest Labor-Management pension plan in the United States with more than 125,000 active participants and pensioners. Benefits are guaranteed by the U.S. Pension Guarantee Corporation. The Central Pension fund is a real pension plan with over $8 Billion in assets -- not a tax-deferred savings plan such as a 401K. Your employer pays a labor contract negotiated set hourly amount into your pension for each and every hour worked. The Central Pension Fund offers numerous ways to qualify for a guaranteed monthly retirement benefit for each vested participant. You become vested when you have at least five service credits. You can earn one credit in one calendar year provided you have worked at least 1.000 hours in that calendar year. The various ways to qualify are:

• Normal Retirement (age 65)
• Early Retirement (age 55 with 10 credits, penalties apply)
• Special Retirement (age 62 with 25 credits, with no penalties)
• Post-Retirement Surviving Spouse Benefit (payable to a surviving spouse of a deceased retiree for life)
• Pre-Retirement Surviving Spouse Benefit (payable at any age to a surviving spouse of a vested participant who dies before retirement)
• Disability Benefit (payable at any age with 15 credits and Social Security eligibility)
• Return of Contributions for a participant who dies before age 65 and prior to becoming vested (5 credits)

CREDIT UNION

Local 9's Credit Union has been providing financial services to Local 9 members and their families since 1974. The Credit Union is a federally insured member owned financial institution directed locally by a volunteer Board of Directors and managed by a full-time staff person Monday through Friday from 8:00 a.m. to 5:00 p.m at 990 Kalamath in Denver, CO. Services through the Credit Union are also available to members outside the metro area. Communications are handled via mail, telephone, fax, e-mail, or web site. Local 9's Credit Union is a member of the Credit Union Association of Colorado and is regulated by the State of Colorado Division of Financial Services.

Following are some of the services available to Local 9 members through the Credit Union:

• Savings (deposits are insured to a maximum of $250,000.00 by the NCUA Share Insurance Fund, a U.S. government agency)
• Certificates of Deposit

• Visa Credit Card

  $9.00 annual fee with a 14.9% APR interest rate, with a 25 day grace period on purchases.

• Auto Loans on new and used cars

• Real Estate Loans

• Money Orders

  with a low fee of $.50 per money order regardless of dollar amount.

• Notary Services

  at no charge
• Additional information can be obtained from Mark Young at the Local 9 office: 303-623-3194 ext. 15, FAX 303-623-8179.

LIFE INSURANCE

Local 9 provides life insurance in the amount of:

• $2,000 for each employee
• $2,000 Accidental Death & Dismemberment for Employee
• $1,000 for employee's spouse
• $1,000 for each child over 6 months
• $100 for children 14 days to 6 months

VACATION PAY

Local 9 negotiates a specified monetary amount for your "vacation pay" (see your labor contract for the exact amount). Your employer contributes this fringe benefit amount for each and every hour that you work. Annually a check is mailed to you on the first Friday in December for all contributions paid into your vacation account for time worked from September 1st (of previous year) through August 31st (of current year). There are some labor contracts at the National level in which vacation pay is not a negotiated benefit. Please read your contract to determine if this is a benefit.