Pension Plan

The Operating Engineers Pension Trust was created in 1960 by the bargaining parties to provide financial security to members and a source of income in their retirement years. The initial funding for the Pension Fund in 1960 was 5¢ per hour and Current Service Credits were valued at $1.50 per credit. Today, the hourly contribution rate is $10.65 per hour and Current Service Credits (as of July 1, 2024) are valued at $62.00. The Fund currently pays out over $21 million per month in pension benefits to nearly 16,500 retirees and surviving spouses. The assets of the Pension Fund total over $3.5 billion and are invested in broadly diversified portfolios managed by some of the best investment managers in the country.