OE3 Trust Funds

What OE3 Trust Funds does

OE3 Trust Funds is a multiemployer Taft-Hartley employee benefit trust administered by a jointly-trusteed Board of Trustees with equal labor and management representation, established under ERISA through collective bargaining agreements between Operating Engineers Local 3 (IUOE Local 3) and contributing signatory employers. The fund delivers health and welfare, defined benefit pension, and supplemental annuity benefits to approximately 41,000 active and retired operating engineers, heavy-equipment operators, construction workers, public employees, and maintenance workers across a four-state jurisdiction spanning California, Hawaii, Utah, and Nevada. Employer contributions are remitted at fixed hourly rates per CBA and constitute the sole funding source; the fund is a tax-favored ERISA vehicle rather than a commercial enterprise and is not equity-financed.

The fund's product surface consists of three core benefit programs — the Health and Welfare Fund (medical, dental, vision, prescription drug, and life insurance coverage), the Pension Trust Fund (a defined benefit plan offering Service Pension, Rule of 85 Pension, and a Delayed Retirement Incentive program), and the Annuity Plan (a supplemental defined contribution account with loan provisions, lump-sum, annuity purchase, or IRA rollover distribution options) — supported by the Participant Edge member portal and companion mobile applications on iOS and Android. Day-to-day administration, including the digital portal and help-desk operations, is outsourced to Zenith American Solutions as third-party administrator, while a network of carrier partners (Kaiser Permanente, Anthem BlueCross, HMSA, Delta Dental, VSP, and OptumRx) delivers the underlying insured benefits. The fund is headquartered in Alameda, California, employs between 251 and 500 people, and was founded in 1985.

The operating model is community-led and non-commercial: there is no pricing or sales motion because benefits access is earned through CBA-covered employment hours, with eligibility rules and contribution rates negotiated collectively rather than marketed. Member communications are conducted through the website, portal notifications, direct mail and email, and fund-office phone support. The fund's moat derives from its ERISA-anchored regulatory structure, exclusive relationship with Local 3, and accumulated participant vesting, which collectively prevent new entrants from offering equivalent benefits to the same population.

Name

OE3 Trust Funds

Legal name

Operating Engineers No. 3 Health and Welfare Fund, Pensioned Health and Welfare Fund, Pension Fund, and Annuity Fund

Website

https://oe3trustfunds.org

Company type

Private

Founded year

1985

Operating status

Operating

Headcount range

251–500 employees

Short description

OE3 Trust Funds is a Taft-Hartley multiemployer benefit trust that delivers health and welfare, defined benefit pension, and annuity plans to roughly 41,000 active and retired members of Operating Engineers Local 3 across California, Hawaii, Utah, and Nevada.

Ownership category

akta.pro rank

Product category

Multiemployer Employee Benefit Trust

NAICS

Health and Welfare Funds (52512), Pension Funds (525110)

SIC

Hospital & Medical Service Plans (6324)

akta.pro primary industry

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

akta.pro secondary industry

Employee Benefit & Retirement Plan Trust Services (FSAAANAC)

Keywords

• Multiemployer benefit plans
• Health and welfare fund
• Defined benefit pension
• Union annuity plan
• Taft-Hartley trust fund

Headquarters

HQ city

Alameda

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Employer Contributions: All contributions to the pension and health & welfare funds are made by contributing employers in accordance with Collective Bargaining Agreements with Local Union No. 3 of the International Union of Operating Engineers at fixed rates per hour. This is a defined benefit pension plan.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels1 record

Core offering

OE3 Trust Funds is a multiemployer Taft-Hartley employee benefit trust fund that delivers collectively bargained health and welfare, defined benefit pension, and supplemental annuity benefits to active and retired members of Operating Engineers Local 3 across California, Hawaii, and Utah. Contributions are made by employers pursuant to collective bargaining agreements at fixed hourly rates, and benefits are administered through the Participant Edge member portal, mobile applications, and the Alameda, California fund office.

Differentiator

Problem solved

Functional benefit

Products and services

• Health & Welfare Fund Multi-employer health and welfare benefit plan providing medical, dental, prescription drug, vision, and life insurance coverage for active and retired Operating Engineers Local 3 members across California, Hawaii, Utah, and related jurisdictions. Includes COBRA, Health Benefits Hour Bank, and Pensioned Health & Welfare coverage for retirees.
• Pension Trust Fund Defined benefit pension plan for Operating Engineers Local 3 members providing monthly pension benefits upon retirement. Includes options such as the Rule of 85 Pension and the Delayed Retirement Incentive (DRI) program that rewards participants who continue working past their Service Pension Eligibility Date with percentage-based incentives.
• Annuity Plan Supplemental defined contribution retirement plan providing individual account-based benefits with tax-deferred accumulation, loan provisions, and distribution options including lump sum, annuity purchase, or IRA rollover. Available to California and Hawaii annuity participants with immediate vesting.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Twelve partnerships are on record, tiered core, major and minor.

• Operating Engineers Local 3coreStrategic or Co-development PartnerThe union that represents operating engineers and establishes the trust funds through collective bargaining agreements. Local 3 represents 41,000 members including heavy equipment operators, construction workers, and public employees.
• International Union of Operating Engineers (IUOE)coreStrategic or Co-development PartnerThe international union that Local 3 belongs to, providing skilled operating engineers to building and construction contractors and representing members in pipeline, petro-chemical, and other industries.
• Zenith American SolutionscoreImplementation/ SI/ Consulting PartnerThird-party administrator for the trust funds. Agent for service of legal process and manages the Participant Edge portal. Listed as the designated agent for service of legal process.
• Kaiser PermanentemajorTechnology or IntegrationHealth maintenance organization providing medical benefits for active and retired employees in California and Hawaii.
• BlueCross of California (Anthem)majorTechnology or IntegrationPPO option for medical benefits for active and retired employees in California.
• HMSA (BlueCross/BlueShield of Hawaii)majorTechnology or IntegrationMedical insurance provider for members residing in Hawaii under the Hawaii H&W plan.
• Delta DentalmajorTechnology or IntegrationDental benefits provider covering active and retired employees with Delta Dental PPO and Premier networks.
• Vision Service Plan (VSP)majorTechnology or IntegrationVision care provider offering members vision plans with savings on eyewear and choice in doctors.
• OptumRxmajorTechnology or IntegrationPrescription drug coverage provider for active and retired employees. Also provides health and wellness information through their website.
• Operating Engineers Local Union #3 Federal Credit UnionminorImplementation/ SI/ Consulting PartnerAdministers the Annuity Loan Program for the trust fund, authorized to process participant loans.
• United ContractorsminorChannel Partner/ Reseller/ DistributorTrade association representing union-affiliated contractor businesses and associate firms throughout the Western United States.
• Associated General Contractors of CaliforniaminorChannel Partner/ Reseller/ DistributorTrade association representing construction industry contractors who collectively bargain with Operating Engineers Local 3.

Scale indicators2 records

Recent moves5 records

Expansion highlights3 records

Direct peers

• Western Conference of Teamsters Pension Trust: Large Taft-Hartley multiemployer defined benefit pension plan covering Teamsters members across the Western U.S., with overlapping geography and a similar jointly-trusteed, ERISA-governed structure serving construction-adjacent trades.
• National Electrical Benefit Fund (NEBF): Taft-Hartley multiemployer pension and benefit trust fund for IBEW electrical workers, offering defined benefit pensions and comprehensive health coverage funded by per-hour employer contributions under collective bargaining — comparable in structure, scale, and benefit scope to OE3.
• United Brotherhood of Carpenters Pension Fund: Multiemployer pension and benefit trust for carpenters and construction trade workers, established through collective bargaining agreements and offering health and pension benefits analogous to OE3's Taft-Hartley framework.
• Operating Engineers Local 12 Pension Trust Fund: Operating Engineers Local 12 (Southern California) multiemployer trust fund providing health, welfare, and pension benefits to operating engineers in the same geographic and trade jurisdiction as OE3, with an almost identical product set across H&W, pension, and annuity lines.
• Laborers International of North America (LIUNA) National Pension Fund: Taft-Hartley multiemployer pension and benefit trust for construction laborers, providing H&W and pension coverage funded by collectively bargained employer contributions, structurally aligned with OE3.
• Plumbers and Pipefitters National Pension Fund: National Taft-Hartley multiemployer defined benefit pension fund for UA plumbers and pipefitters, providing retirement benefits to construction trade union members under nearly identical funding mechanics to OE3.
• Central Pension Fund of the International Union of Operating Engineers: Taft-Hartley multiemployer pension and benefit trust fund for IUOE operating engineers outside Local 3, providing defined benefit pension and health benefits to construction industry workers through collectively bargained employer contributions — structurally and functionally the closest analogue to OE3.
• Sheet Metal Workers' National Pension Fund: Taft-Hartley multiemployer defined benefit pension plan for SMART sheet metal workers in the construction trades, comparable in structure, jointly-trusteed governance, and benefit scope to OE3's pension fund.
• SAG-AFTRA Health Plan: Multiemployer health and welfare trust for entertainment industry performers, comparable to OE3 in jointly-trusteed Taft-Hartley fund administration, member portal delivery, and multi-benefit (H&W plus retirement) scope, though serving a different industry vertical.

Regional players

• California Ironworkers Pension Trust: Regional Taft-Hartley multiemployer pension trust for ironworkers in California, providing defined benefit pensions through collectively bargained contributions with overlapping geographic reach to OE3's core CA/HI jurisdiction.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

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 OE3 Trust Funds