Pile Drivers and Divers Pension Plan
The Pile Drivers, Divers, Bridge, Dock & Wharf Builders Pension Plan was established effective October 1, 1970, to provide retirement pensions to eligible members working in the bargaining unit of Pile Drivers and Divers Local 2404. It is funded under the terms of collective agreements negotiated between the Pile Drivers, Divers, Bridge, Dock and Wharf Builders Local Union 2404 (UBCJ of A) and various employers in the marine construction industry.
BOARD OF TRUSTEES
The plan is managed by six Trustees appointed by the Union. The Trustees decide what the benefits of the plan will be and under what terms the benefits will be paid, consistent with applicable legislation and the terms of the collective agreement which apply to the plan. They appoint an investment manager to invest the fund and an actuary to value the liabilities and assets of the Plan at least once in every three years. The Trustees are:
- Mike Ahner (term expires Sept. 30, 2021)
- Peter Freiburghaus (term expires Sept. 30, 2018)
- Darrell Hawk (Chairman) (term expires Sept. 30, 2018)
- Eric Joyal (term expires Sept. 30, 2021)
- Mark O'Neill (term expires Sept. 30, 2018)
- Gavin Perry (term expires Sept. 30, 2021)
Each employee who is covered by a collective agreement with the Union, for whom required employer contributions are made is automatically covered by the plan. To be eligible for a pension you must have at least two years of plan membership.
The plan includes
- Membership Service pension accrual based on the number of hours worked, provided your employer(s) pay the plan the negotiated hourly contribution for those hours.
- Past Service pension credited, upon application, for full years of membership in the Union prior October 1970. To be eligible, the member must have been credited with at least 500 hours of Membership Service in the first four years of the Plan (i.e. before October 1974). The rules for Past Service are more fully explained elsewhere.
The Trustees have hired Pacific Blue Cross* to administer the Plan on their behalf. Every month, participating employers contribute to a trust fund on behalf of their eligible employees. The Trustees hold and invest the fund, which is used to pay for benefit coverage and for operating expenses.
The information on this web site is an outline of the benefits provided by the Pile Drivers, Divers, Bridge, Dock & Wharf Builders Pension Plan and is not a contract. This Plan only covers those benefits listed above and is subject to the terms of the Plan Text and the Plan Booklet. For further information about the Plan, contact the Plan Office or Local Union 2404.