One of the benefits of being a member of Local 14-14B is that you have available
to you some of the best health, retirement and retraining benefits available in
the construction industry. Briefly, these benefits are outlined below. For more
in-depth information, we suggest that you review the Summary Plan Description for
each of the Plans.
Local 14 is very proud to provide its members with an Annuity Plan which provides
an extra retirement benefit to those members who have worked hard in the construction
industry. The Local 14 Annuity Plan is setup as a participant-directed investment
program which is administered through Prudential Retirement Services, one of the
preeminent retirement service providers in the country. The Local 14 Annuity Plan
provides diverse investment options for its participants, as well as providing the
opportunity for eligible members to take a loan or hardship distribution from their
individual accounts for such purposes, including but not limited to: buying a primary
residence, making a home improvement or preventing a mortgage foreclosure. (The
full list of available loan and hardship options and the detailed rules are provided
in SPD booklet.)
The Local 14 Pension Plan provides members with retirement income in addition to
social security and Annuity Plan account. This retirement benefit is available to
all members who satisfy the written requirements established by the Plan. Presently,
a member of Local 14 is entitled to a pension benefit if he or she satisfies any
of the following criteria:
Regular Pension: Once you've reached age 62 and have earned at
least 5 pension credits of future service.
Early Retirement Pension: Once you've reached age 55 (but are not
yet 62) and have earned at least 15 pension credits.
Disability Award Pension: If you are "totally and permanently disabled,"
have been awarded a Social Security Disability Award and you've earned 10 pension
Vested Pension: If you stop working in covered employment before
retirement, but after you've completed at least five years of vesting service.
The Local 14 Training Program provides members with skill-advancement training through
classes held at the union hall and the training facility in Montrose, New York,
as well as hands-on practical supervised training on the heavy construction equipment
maintained at the Montrose training facility. In addition, Local 14 has a DOL certified
Apprenticeship Program wherein registered apprentices receive classroom, practical
and on-the-job training. For information concerning the Apprenticeship Program or
journeyperson skill advancement training classes, please contact Director of Journey
Person and Apprenticeship Training, Michael Gonoud or Thomas Gordon at (718) 939-0600, Ext. 126.
The Local 14 Welfare Plan provides a wide array of health care benefits to those
members, their spouses and dependents who satisfy the eligibility requirements outlined
in the SPD booklet. Local 14 and the Trustees of the Local 14 Welfare Plan are proud
of the fact that this Plan is able to provide participants with medical, hospital,
death, prescription drug, dental and vision benefits. As a union member, you and
your family are entitled to the highest level of health care available, and the
Local 14 Welfare Plan ensures that you and your family are protected in times of
illness. If you have any questions concerning your medical benefits, please contact
the Fund Office at (718) 939-1489.