History 

The Laborers' Health and Welfare Fund for Chicago & Vicinity was established in 1950 by an agreement and Declaration between the Laborers' District Council, the AFL-CIO, the Builder' Association of Chicago, the Underground Contractors Association, the Mason Contractors' Association of Cook County, the Street Paving and Grade Separation Contractors, including the Illinois Road Builders' Association, the Concrete Contractors' Association of Greater Chicago and the Employing Plasterers' Association of Chicago, representing the contributing employers and Union employees of the Laborers International Unions of North America Locals 1, 2, 4, 5, 6, 25, 75, 76, 96, 118, 152, 225, 269, 288, 681, 1001, 1002, 1006 and 1092.

The Laborers' Pension Fund for Chicago & Vicinity was established on June 1, 1963 by an Agreement and Declaration of Trust between the Laborers' District Council, the AFL-CIO, the Builder' Association of Chicago, the Underground Contractors Association, the Mason Contractors' Association of Cook County, the Street Paving and Grade Separation Contractors, including the Illinois Road Builders' Association, the Concrete Contractors' Association of Greater Chicago and the Employing Plasterers' Association of Chicago, representing the contributing employers and Union employees of the Laborers International Unions of North America Locals 1, 2, 4, 5, 6, 25, 75, 76, 96, 118, 152, 225, 269, 288, 681, 1001, 1002, 1006 and 1092.

The purpose of the Funds is to provide health and welfare and pension benefits to participants covered by collective bargaining agreements between the Union and contributing employers.

The Funds are administered exclusively by the Board of Trustees (or administrator or any committee solely authorized by the Board of Trustees) consisting of an equal number of representatives appointed by the Union and by the Employers through their collective bargaining associations.

Since Funds were established pursuant to the terms and conditions of the Trust Agreement and since said Trust Agreement forms the basis of administration and operation of the Fund, all of the provisions of said Agreements of Trust and the Plan Documents have been restated to comply with the various federal laws governing pension plans. Under the terms of the Agreements creating the Funds, it was agreed that the employers bound by the collective bargaining agreement would make contributions to the Funds on behalf of the employees working under the bargaining agreement.

Contributions shall be made to the Funds by signatory employers under the requirements of the collective bargaining agreements between the contributing employers and the participating local unions. On the basis of the contributions received plus investment income earned, the Trustees provide the benefits set forth in the Plans.

Since its initiation, it has been the Laborers' Health and Welfare Fund Trustees' goal to provide quality health insurance benefits with the contribution income available, while maintaining adequate reserves. The millions of dollars which have been paid on behalf of insured participants and their dependents over the years, combined with excellent benefits that the Plan offers you and your family toward the high cost of sickness and disability, is testimony that the Trustees have succeeded in their goal.

The Laborers' Pension Fund Trustees work together with the goal of building a secure future for you and your family during retirement. The Trustees maintain a conservative investment strategy, diversifying investments so as not to expose assets to unnecessary risks. This Taft-Hartley Trust Fund is financed entirely by employer contributions negotiated through the collective bargaining process and investment income. As of 2009, the Laborers' Pension Fund has provided 46 years of commitment to active and retired laborers. The Fund currently has more than 7,300 pensioners and beneficiaries receiving over $109 million each year in pension benefits.

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