|
The Operating Engineers Pension
Trust was created June 1, 1960, by a negotiated trust agreement between I.U.O.E., Local 12 and the employers who were party to their labor agreements.
The Trust awarded its first pension in 1962. At that time, a Current
Service Credit was valued at $1.50 per credit, per month. For
pensions
effective on and after November1, 2001,
the value of the Current Service Credit was increased to $54.00 per
credit.
Since its inception in 1960, more than 24,000 pensions have been awarded and the
Trust has provided benefits in excess of
$2
billion dollars.
************************************
|
