UWUA National Trust Funds

Officers Report 2015, Part 13

The UWUA is committed to professional management of the membership’s day-to-day training and benefit needs. The UWUA sponsors the UWUA Health & Welfare Trust Fund, UWUA Deferred Compensation (401k) Trust Fund, UWUA Power for America Training Trust Fund, and the Center for Safety, Health and Environmental Education-Labor Management Cooperation Committee, Inc. (LMCC). These funds assure that the membership’s benefits and training needs are addressed in the most comprehensive, unbiased and cost-effective manner available, through nationally recognized delivery platforms.

The UWUA adopted several resolutions at the 28th Constitutional Convention mandating a long-term strategic plan, which included the delivery of both apprentice and incumbent worker training components. These came to be nationally recognized as “best in class.” Special emphasis was placed on equipping our members with the skills and advanced training that will ensure job security, and will address the constantly evolving technological advancements within our industries.

The UWUA National Health & Welfare Trust Fund

  • The trust is a qualified non-profit organization and is exempt from income taxes under Section 501(c) (9) of the Internal Revenue Code.
  • The trust currently provides healthcare, vision, dental, life, AD&D, LTD, HRA and VEBA related insurance benefits from national vendors to more than 7,500 trust participants and their beneficiaries. All benefit delivery programs are capable of delivering benefit services on a national scale.
    Participating employers include Dominion, American Water, Peoples Natural Gas, Maverick Const., Utility Lines Const. Services, Hydaker-Wheatlake, Boston Generating Company, and Union- Built PC.
  • Participating unions include the IBEW, USW, and the UWUA.
  • Pooled benefit purchasing utilizing a Multi-Employer Health and Welfare Trust Fund promotes cost efficiencies (economies of scale), by allowing for the negotiating of the best rates, and by spreading costs among many employers and participants.
  • Trust assets can be accumulated to address future benefit delivery needs, while trust investment earnings are NOT subject to taxation.
  • The trust’s vision and dental benefits are currently self-insured.
  • The trust is administered by an eight-member Board of Trustees, composed of an equal number of union and employer representatives.
  • The trust has a “flat” and extremely efficient administrative structure. The trustees are responsible for all administrative, financial, and benefit procurement decisions relative to the trust’s assets. Required prior action, due diligence, and UWUA National Trust Funds professional input is received from the trust’s contracted legal, accounting, investment, and administrative professionals.

The UWUA Deferred Compensation Trust Fund (401k)

  • The trust is a qualified non-profit organization and is exempt from income taxes under Section 501(c)(9) of the Internal Revenue Code.
  • The UWUA Deferred Compensation Trust Fund (401k) asset investment decisions are largely weighted on the advice and recommendations of the trust’s professional advisers. The trust’s assets are managed by the MorganStanley-SmithBarney Financial Group.
  • This collaborative effort of the trustees and the fund professionals has provided a positive return on investment for all trust participants since the inception of the trust on July 1, 2007.
  • Participating employers include Maverick Const., Utility Lines Const. Services, Hydaker-Wheatlake, and Union-Built PC.
  • Participating unions include IBEW Local 204 and the UWUA.
  • Pooled resources of a Multi-Employer Deferred Compensation Trust Fund promote cost efficiencies (economies of scale) by spreading administrative costs among many employers and participants.
  • The trust has a “flat” and extremely efficient administrative structure. The trustees are responsible for all administrative, financial, and investment management decisions relative to the trust’s and participants’ assets. Required prior action, due diligence and professional input are provided by the trust’s contracted legal, accounting, investment, and administrative professionals.

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