International Union of Operating Engineers

What International Union of Operating Engineers does

Local 14-14B International Union of Operating Engineers Fringe Benefit Funds is a Taft-Hartley multi-employer fringe benefit fund administering five benefit programs on behalf of union operating engineers and their dependents in the New York City heavy construction industry. The fund operates as a non-profit, governed by a Board of Trustees with equal union and employer representation drawn from Local 14-14B and four contractor associations (BCA, The Cement League, CAGNY, GCA). Its product suite comprises a defined-benefit Pension Plan (with regular, early, disability, and vested pensions), a participant-directed Annuity Plan, a Welfare Plan delivering medical, hospital, dental, vision, prescription, and death benefits, a DOL-certified Apprenticeship and journeyperson Training Program delivered at the union hall and a dedicated Montrose, NY training facility, and a Stamp Fund that administers employer contribution remittance via wage-scale-based hours tracking.

The underlying technology and service architecture is built on outsourced third-party administration rather than proprietary infrastructure. The Annuity Plan is administered through Prudential Retirement Services as a participant-directed investment platform with loan and hardship distribution features; the Welfare Plan is administered through Empire Blue Cross Blue Shield (with OptumRx handling pharmacy and Inner Imaging providing preventive screenings); member and employer transactions flow through an ISSI Systems member login portal and an SST stamp-lookup tool; and the training program leverages a physical heavy-equipment facility. The fund has implemented federal compliance infrastructure for the Transparency in Coverage rule and No Surprise Act, including machine-readable files for negotiated rates.

The revenue model is contribution-based and not publicly disclosed. Employer contributions are negotiated through collective bargaining agreements and remitted via the Stamp Fund based on hours worked at negotiated wage scales; investment income on pension and annuity assets supplements contributions. The fund does not engage in commercial marketing or distribution channels and instead delivers benefits directly to eligible members through the fund office, a member portal, and direct outreach. Operating geography is the NYC metropolitan area, served from the headquarters at 159-18 Northern Blvd., Flushing, NY.

Name

International Union of Operating Engineers

Legal name

Local 14-14B Int'l Union of Operating Engineers Fringe Benefit Funds

Website

https://local14funds.org

Company type

Private

Founded year

1896

Operating status

Operating

Headcount range

101–250 employees

Short description

Local 14-14B IUOE Fringe Benefit Funds is a Taft-Hartley non-profit administering pension, annuity, welfare, apprenticeship training, and stamp contribution services for union operating engineers and dependents in the NYC heavy construction industry, governed jointly by union and employer trustees.

Ownership category

akta.pro rank

Product category

Multi-Employer Fringe Benefit Fund Administration

NAICS

Pension Funds (525110), Health and Welfare Funds (52512), Insurance and Employee Benefit Funds (5251)

SIC

Hospital & Medical Service Plans (6324), Life Insurance (6311), Accident & Health Insurance (6321)

akta.pro primary industry

Taft-Hartley / Labor Union & Public Sector Retirement Systems (FSAAAGAK)

akta.pro secondary industries

Taft-Hartley / Union Multiemployer Group Health Plans (FSAIAFAG), Pensions & Retirement Benefits Administration (BPAIAKAA), Ancillary Employer Benefits (Life/Disability/Accident/Critical Illness) (HLAEAAAK)

Keywords

• Union benefit administration
• Multiemployer pension funds
• Construction welfare benefits
• Apprenticeship training programs
• Taft-hartley benefit funds

Headquarters

HQ city

Flushing

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Core offering

Local 14-14B IUOE Fringe Benefit Funds administers five Taft-Hartley multi-employer benefit plans for construction industry operating engineers and their families: the Annuity Plan (participant-directed retirement savings via Prudential), the Pension Plan (defined benefit retirement income with multiple pension types), the Welfare Plan (medical, hospital, death, prescription, dental, and vision coverage), the Training Program (DOL-certified apprenticeship and journeyperson skill advancement), and the Stamp Fund (work-hour tracking and contractor contribution processing).

Product overview

The International Union of Operating Engineers Local 14-14B Fringe Benefit Funds operates as a multi-benefit platform offering five core products: the Annuity Plan (participant-directed investment retirement savings), Pension Plan (defined benefit retirement income), Training Program (DOL-certified apprenticeship and skill advancement), Welfare Plan (comprehensive health care coverage), and Stamp Fund (benefits contribution tracking and administration). These benefits collectively serve construction industry workers, with the plans administered through third-party providers including Prudential Retirement Services and Empire Blue Cross Blue Shield.

Differentiator

Problem solved

Functional benefit

Products and services

• Annuity Plan
• Pension Plan
• Welfare Plan
• Training Program
• Stamp Fund

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core and supporting.

• Prudential Retirement ServicescoreOthersPrudential Retirement Services administers the Local 14 Annuity Plan as a participant-directed investment program, providing diverse investment options for eligible members.
• Empire Blue Cross Blue ShieldcoreOthersEmpire Blue Cross Blue Shield serves as the third-party administrator for the plan's machine-readable files related to in-network negotiated rates and historical allowed amounts for out-of-network charges.
• OptumRxsupportingOthersOptumRx provides prescription drug benefit services including free COVID-19 test kits and coverage of antivirals under the prescription drug benefit plan.
• Inner ImagingsupportingOthersInner Imaging provides health screening exams to identify early stage heart and lung disease, available to active eligible participants and spouses 35 and over once every 5 years.

Recent moves6 records

Expansion highlights4 records

Direct peers

• Local 15, IUOE Fringe Benefit Funds: Other IUOE local-chapter fringe benefit fund administering pension, welfare, annuity, and training benefits to operating engineers under the same Taft-Hartley multi-employer model. Directly comparable in product mix, governance, and target member base.
• Local 137, IUOE Fringe Benefit Funds: Sister IUOE local fund providing pension, annuity, welfare, and training benefits to operating engineers in the NY/NJ region. Closest geographic and structural analog to Local 14-14B.
• Plumbers Local 1 Welfare Fund: Taft-Hartley fringe benefit fund serving NYC plumbers with pension, health/welfare, and training benefits. Directly comparable construction-trade multi-employer fund structure within the same geography.
• Laborers Local 731 Health and Welfare Fund: Taft-Hartley multi-employer fringe benefit fund for construction laborers in the NYC area, offering health/welfare, pension, and annuity plans. Operates under the same regulatory and contribution framework as Local 14-14B.
• Northeast Carpenters Funds: Multi-employer Taft-Hartley fringe benefit funds serving union carpenters in the NYC region, providing pension, annuity, health/welfare, and training. Comparable in industry vertical (construction), fund structure, and service area.
• Sheet Metal Workers Local 28 Benefit Funds: NYC-area construction union fringe benefit fund providing health, pension, annuity, and apprenticeship/training benefits. Comparable fund architecture and target member demographic to Local 14-14B.

Broad incumbents

• Milliman: Global actuarial and consulting firm with a large Taft-Hartley and multi-employer plan practice. Provides actuarial valuations, plan administration consulting, and compliance services to construction union funds nationally.
• Segal Group: Large actuarial and benefits consulting firm specializing in multi-employer and Taft-Hartley fund administration, plan design, and compliance. Broad incumbent providing similar back-office capabilities to many construction-industry funds.

Others

• Anthem Blue Cross Blue Shield (Empire): Third-party administrator for Local 14-14B's Welfare Plan and a major carrier serving multi-employer union health plans. Comparable as the health-plan infrastructure provider to comparable construction union funds.
• Prudential Retirement Services: Core administrative partner for Local 14-14B's Annuity Plan and a major recordkeeper/investment provider to Taft-Hartley retirement funds broadly. Comparable as a retirement administration platform serving the same fund type.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• Xx.com/iuoe595
• LinkedInlinkedin.com/company/3362150

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about International Union of Operating Engineers