Ohio Laborers Fringe Benefit Program – Pension Fund

Ohio Laborers Fringe Benefit Program Fringe Benefit Programs (OLFBP) extend comprehensive benefits to eligible Laborers across Ohio. For detailed insights into the array of benefits available, please refer to:

Insurance Coverage Encompasses:

Medical Coverage: Provided by Anthem BlueCross BlueShield. Prescription Coverage: Offered through Orchard Pharmaceutical Services. Vision Coverage: Administered by National Vision Administrators – NVA. Death and Dismemberment Insurance. Short-term Disability Benefits. Retiree Insurance Coverage. Wellness and Disease Management Programs.

Initial eligibility for insurance benefits is established on the first day of the month following 450 hours of laborer work, within a consecutive six-month period.

Continued eligibility is reviewed on a monthly basis. To sustain eligibility for any given month, Laborers must meet any of the following criteria: Accumulate 300 hours within the first three months of the five months immediately preceding the coverage month. Accumulate 300 hours within the first three months of the four months immediately preceding the coverage month. Accumulate 1200 hours within the first 12 months of the 14 months immediately preceding the coverage month. Accumulate 1200 hours within the first 12 months of the 13 months immediately preceding the coverage month.

Thus, maintaining insurance benefits necessitates consistent work patterns, with either 300 hours every three months or 1200 hours annually. It’s essential to note that 1200 hours per year doesn’t automatically ensure continued eligibility, as each twelve-month period is evaluated separately.

There are no associated costs for establishing or retaining eligibility, provided the eligibility requirements are met, irrespective of the number of dependents. Contractors are mandated to allocate a fixed amount from every laborer’s hour as part of the Laborers wage package.

Pension Benefits Overview:

Vesting Requirements: A minimum of 5 credits is needed to be vested, without which no pension benefit is receivable. Credits Accumulation: Laborers can earn a maximum of one credit per calendar year, with 1000 hours equating to one pension credit. Additionally, 750 hours, 500 hours, and 250 hours correspond to ¾, ½, and ¼ credits, respectively. Forfeiture Clause: A break of five consecutive years without a credit (or partial credit), and non-vested status leads to the forfeiture of all accumulated hours/credits. OLFBP provides various pension options, including: Regular Retirement: Available at age 60, requiring 5 credits. Early Retirement: Accessible from age 53, with 10 credits (benefits subject to a reduction of ¼% for every month below age 60). Special Service Retirement: Attainable at age 53 with 30 credits, allowing for early retirement without benefit reduction. Disability Pension Benefits: Two types offered for members unable to work, requiring 10 credits and meeting additional disability criteria. Accrued Vested Retirement: Attainable at age 65, necessitating 5 years of participation and no break in service.

Pension benefit calculation typically follows one of two methods, with the higher benefit calculation being automatically granted: Multiply the number of pension credits by $74, or Multiply the total hours worked by $0.064.

Note: Benefits may undergo reduction for spousal options, Early Retirement, retiree insurance, and tax considerations.

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Ohio Laborers Short Term Disability

Ohio Laborers’ Short-Term Disability (STD) benefits provide crucial support to members during times of temporary inability to work due to illness or injury. These benefits are designed to offer financial assistance and peace of mind, ensuring that eligible laborers can maintain stability and meet their essential needs while recovering.

Key Features of Ohio Laborers’ Short-Term Disability Benefits:

1. Coverage Duration: STD benefits typically provide income replacement for a specified period, typically ranging from a few weeks to several months, depending on the specific plan details and the nature of the disability.
2. Income Replacement: Eligible members receive a percentage of their pre-disability income during the covered period, helping to offset lost wages and maintain financial stability.
3. Qualifying Conditions: Short-term disability benefits may cover various medical conditions, injuries, or illnesses that prevent a laborer from performing their job duties. Common qualifying conditions include but are not limited to:
   • Serious illnesses such as cancer, heart disease, or pneumonia.
   • Injuries resulting from accidents or workplace incidents.
   • Pregnancy-related complications or childbirth recovery.
4. Waiting Period: STD benefits often include a waiting period, typically a short duration after the onset of disability, before benefits become payable. This waiting period may vary depending on the specific plan terms.
5. Claim Process: Laborers must follow the prescribed claim process to initiate their short-term disability benefits. This typically involves submitting necessary medical documentation and other required paperwork to the designated insurance provider.
6. Coordination with Other Benefits: Short-term disability benefits may coordinate with other forms of insurance coverage, such as workers’ compensation or employer-sponsored disability insurance, to ensure comprehensive support for eligible members.
7. Return-to-Work Assistance: Ohio Laborers’ STD benefits may also offer support services to facilitate a smooth transition back to work once the laborer has recovered and is medically cleared to resume job duties.
8. Member Resources: Ohio Laborers provide access to resources and support to help members understand their STD benefits, navigate the claims process, and address any questions or concerns they may have regarding their coverage.

In conclusion, Ohio Laborers’ Short-Term Disability benefits offer vital financial protection and support for eligible members facing temporary disabilities. By providing income replacement and access to essential resources, these benefits help ensure that laborers can focus on their recovery without the added stress of financial insecurity.

Ohio Laborers Pension Fund

The Ohio Laborers Pension Fund is a vital component of the comprehensive benefits package provided to eligible members of the Ohio Laborers’ union. Designed to support laborers in retirement, the pension fund offers a range of benefits and options to ensure financial security and stability during the later stages of their careers and beyond.

Key Features of the Ohio Laborers Pension Fund:

1. Vesting Requirements: To be eligible to receive pension benefits, laborers must meet vesting requirements, typically requiring a minimum number of years of service or credits earned through hours worked.
2. Credit Accumulation: Pension credits are earned based on the number of hours worked within a specified period, typically a calendar year. The accumulation of credits is essential for determining eligibility and the amount of pension benefits a member may receive upon retirement.
3. Types of Pension Plans: The Ohio Laborers Pension Fund offers various pension plans tailored to meet the diverse needs of its members. These may include:
   • Regular Retirement: Available at a specified age with a minimum number of credits earned.
   • Early Retirement: Allows for retirement before the standard retirement age, albeit with potential benefit reductions.
   • Special Service Retirement: Offers an option for early retirement without benefit reductions for members meeting specific criteria.
   • Disability Pension Benefits: Provides financial support for members who are unable to work due to disability, subject to eligibility requirements.
   • Accrued Vested Retirement: Offers benefits to members who meet specific criteria, such as age and years of participation, without a break in service.
4. Benefit Calculation: Pension benefits are typically calculated based on factors such as the number of pension credits earned, years of service, and the member’s age at retirement. The pension fund employs formulas to determine the gross amount of the monthly pension benefit, ensuring fair and equitable distribution.
5. Spousal Options and Other Considerations: Pension benefits may offer various options, including survivor benefits for spouses, early retirement provisions, and retiree insurance coverage. These options allow members to customize their pension benefits to suit their individual circumstances and preferences.
6. Member Education and Support: Ohio Laborers provide resources and support to help members understand their pension benefits, navigate the retirement planning process, and make informed decisions about their financial future. This may include access to seminars, educational materials, and personalized counseling services.

In summary, the Ohio Laborers Pension Fund serves as a valuable resource for union members, offering a pathway to secure and stable retirement. With its range of pension plans, benefit options, and member support services, the pension fund plays a crucial role in ensuring the long-term financial well-being of Ohio Laborers and their families.

Ohio Laborers Benefits Westerville Oh

The Ohio Laborers’ Fringe Benefit Programs (OLFBP) extend a wide range of benefits to eligible Laborers in Westerville, Ohio, ensuring that union members have access to essential resources to support their well-being and livelihoods. Here’s an overview of the benefits available:

1. Insurance Coverage:
   • Medical Coverage: Provided through Anthem BlueCross BlueShield, offering comprehensive healthcare services to members and their families.
   • Prescription Coverage: Administered by Orchard Pharmaceutical Services, ensuring access to necessary medications at affordable rates.
   • Vision Coverage: Managed by National Vision Administrators – NVA, providing vision care benefits including eye exams, glasses, and contact lenses.
   • Death and Dismemberment Insurance: Offering financial protection to members and their families in the event of accidental death or injury.
   • Short-term Disability: Providing income replacement to members unable to work due to illness or injury, offering financial security during periods of temporary disability.
   • Retiree Insurance: Ensuring continued access to healthcare benefits for retired members, promoting health and well-being in retirement.
   • Wellness and Disease Management Programs: Supporting members in maintaining good health and managing chronic conditions through educational resources and support services.
2. Pension Benefits:
   • Regular Retirement: Providing retirement benefits at a specified age with a minimum number of credits earned through laborer work.
   • Early Retirement: Allowing members to retire before the standard retirement age, subject to benefit reductions.
   • Special Service Retirement: Offering an option for early retirement without benefit reductions for eligible members.
   • Disability Pension Benefits: Providing financial support to members unable to work due to disability, subject to eligibility criteria.
   • Accrued Vested Retirement: Offering benefits to members meeting specific criteria, such as age and years of participation, without a break in service.
3. Member Services:
   • Assistance with eligibility determination and enrollment processes.
   • Access to educational resources and informational materials regarding benefits and services.
   • Personalized counseling and support services to help members navigate benefit options and plan for their future.

In Westerville, Ohio, the Ohio Laborers’ Fringe Benefit Programs strive to meet the diverse needs of union members, promoting their health, financial security, and overall well-being. Through comprehensive insurance coverage, pension benefits, and member services, OLFBP aims to support laborers throughout their careers and into retirement, ensuring a brighter and more secure future for themselves and their families.

Local 860 Pension Plan

The Local 860 Pension Plan is a vital component of the benefits package provided to members of Local 860, serving to ensure financial security and stability during retirement years. Here’s an overview of the key features and benefits offered by the Local 860 Pension Plan:

1. Vesting Requirements: Members must meet specific vesting requirements to be eligible for pension benefits. Vesting typically involves a minimum number of years of service or credits earned through hours worked as a member of Local 860.
2. Credit Accumulation: Pension credits are earned based on the number of hours worked within a specified period, typically a calendar year. These credits determine eligibility for pension benefits and may also influence the amount of benefits received upon retirement.
3. Types of Pension Plans: The Local 860 Pension Plan may offer various types of pension plans tailored to meet the diverse needs of its members. These may include:
   • Regular Retirement: Providing benefits at a standard retirement age with a minimum number of credits earned.
   • Early Retirement: Allowing members to retire before the standard retirement age, albeit with potential benefit reductions.
   • Disability Pension Benefits: Offering financial support to members unable to work due to disability, subject to eligibility criteria.
   • Survivor Benefits: Providing benefits to spouses or beneficiaries of deceased members, ensuring continued financial support for surviving loved ones.
4. Benefit Calculation: Pension benefits are typically calculated based on factors such as the number of pension credits earned, years of service, and the member’s age at retirement. The pension plan employs formulas to determine the gross amount of the monthly pension benefit, ensuring fair and equitable distribution.
5. Member Support and Education: Local 860 provides resources and support to help members understand their pension benefits, navigate the retirement planning process, and make informed decisions about their financial future. This may include access to seminars, educational materials, and personalized counseling services.
6. Coordination with Other Benefits: The Local 860 Pension Plan may coordinate with other forms of retirement savings or benefits, such as Social Security or personal savings, to ensure comprehensive support for members during retirement.

Overall, the Local 860 Pension Plan plays a crucial role in providing financial security and peace of mind to members of Local 860, helping them to plan for a secure and comfortable retirement after years of dedicated service as laborers.

Laborers Local 860 Cleveland Ohio

Laborers Local 860 in Cleveland, Ohio, serves as a cornerstone for laborers in the region, providing essential support, representation, and benefits to its members. Here’s an overview of the services, benefits, and representation offered by Laborers Local 860:

1. Representation and Advocacy: Laborers Local 860 advocates for the rights and interests of its members in various industries and workplaces across Cleveland, ensuring fair wages, safe working conditions, and equitable treatment.
2. Training and Skill Development: The union offers training programs and skill development opportunities to help members enhance their abilities, stay competitive in the job market, and pursue career advancement opportunities.
3. Healthcare Coverage: Members of Laborers Local 860 may have access to comprehensive healthcare coverage, including medical, prescription, and vision benefits, to support their health and well-being and that of their families.
4. Retirement Benefits: The local likely offers a pension plan to help members prepare for retirement and enjoy financial security during their later years. This pension plan may include options for regular retirement, early retirement, and disability benefits.
5. Job Opportunities: Laborers Local 860 connects members with job opportunities in various industries, helping them secure steady employment and earn fair wages to support themselves and their families.
6. Community Involvement: The union may be actively involved in community initiatives and projects aimed at improving the quality of life for residents of Cleveland and the surrounding areas.
7. Member Services and Support: Laborers Local 860 provides assistance and support to its members, addressing their concerns, answering their questions, and ensuring they have access to the resources they need to thrive both personally and professionally.
8. Solidarity and Unity: The union fosters a sense of solidarity and unity among its members, promoting collaboration, mutual support, and collective action to advance the interests of laborers in Cleveland and beyond.

Laborers Local 860 plays a vital role in the lives of its members, serving as a source of empowerment, protection, and opportunity in the Cleveland community. Through its services, benefits, and representation, the union works to improve the lives and livelihoods of laborers and their families, contributing to a stronger, more vibrant community for all.