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November 17, 2017
Local 17 Fringe Benefits
Updated On: Jan 21, 2014
Local 17 Fringe Benefit Package
 
  1. Pension
 
·        800 hours in calendar year for one vesting credit
 
·        Vesting requirement is 5 vesting years
 
·        Monthly Pension amount based on total credits
(unlimited as of 1/01/08)
 
·        Credits valued @ $50 per credit as of 1/01/05 (max allowed 3 per year)
 
·        Full retirement at age 55 with 25 years of service
 
  1. Health Benefits – Family Plan
      ·        Eligibility begins after 1000 hours worked (approx. 20 weeks)                  

     (1000 hrs = 1 yr coverage) (1000 hrs each year to maintain benefits)

 
·        Family Major Medical plan including Prescriptions
a.      $500 deductible per person per year (in network)
b.      Unlimited coverage per person per year
c.      After $500 deductible it’s 75% (hall) - 25% (you) up to $3000 then 100%.
d.      Prescriptions are 25% co-pay. Prices vary depending on negotiated discounts.
·        Dental - $1500 per person per year

·        Vision – Member gets 1 exam, 2 pairs of glasses every 2 years.                    

                    Dependent gets 1 exam, 1 pair of glasses every 2 years

 
  1. Annuity
 
·        $3.00 per hour worked included in fringe package paid by contractor               (no payroll deductions)
·        You can self direct your account on-line or by phone.
 
The Entire benefit package is at no cost to employee.

 


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Laborers' International Union of North America Local 17
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