Summer 2024

My Fellow Brothers and Sisters,

First off, I wanted to congratulate all of Local 5’s officers that went unopposed at Local 5’s nominations! Thank you to all of Local 5’s membership for the continued support and confidence that you keep in Local 5’s officers and reelecting them for another 3 years to lead this local!

Keeping on with positive news theme, I think everyone should be pleased with this year’s allocations. As of June 1st, we will be entering into our fourth year of our five year contract with $2.60 to be allocated. It was voted on and passed that Laborers throughout Chicagoland will be receiving a base wage increase of $1.25 (bringing our hourly wage to $50.15). Welfare will receive $1.01 along with retiree subsidy receiving $0.10 and retiree pre-funding receiving $0.24.

Active Laborers’ improvements

- Benefit accrual rates have been raised again for a third straight year. Starting this year’s raise has increased $5.00 from $117 to $122 per pension credits. This is an increase of 4.27% and over the course of the last 3 years we received a 10% increase of $11.00 to your pension.

-To be eligible for this increase, 250 hours must have been worked after June 1, 2023. If you have questions please contact the Pension Funds (708) 562-0200.

Retiree’s improvements

- Benefit improvements were also made for our retiree’s with their death benefit raised from either the $4500 or $6000 that they originally had to $10,000 for their beneficiary.

- Retirees who are receiving a pension and earned 5 to 9 ¾ pension credits will receive a one-time 13 check for $500.

- Retirees who are receiving a pension and earned more than 10 pension credits will receive a one-time 13 check again this year for $1500.

Specific details on how this will affect you or your retirement and or eligibility will be mailed to you by the Pension Funds in the coming months.

Important Notice of Change to Weekly Income LOT Benefits

-Effective as of January 1, 2024, Active Plan 1 provides up to $600 per week in Weekly Income Benefits, also called loss of time benefits, for loss of time due to a non-occupational injury or illness. Previously, Active Plan 1 provided up to $450 per week in Weekly Income Benefits for loss of time due to a non-occupational illness or injury.

In closing, Local 5’s Out-of-Work list is currently sitting at 43 members. Those of you looking for work and have a current asbestos license please contact us here at the local so we can help assist you finding work. Asbestos industry is always in high demand every summer when the schools let out. Also, around this time every year we get calls for experienced demo burners. If you have either qualifications make sure to come let us know and get your name on the out-of-work list.

With all of us celebrating Memorial Day, Monday May 27, I hope we all pause for a moment and reflect on the true meaning of Memorial Day and honor those that sacrificed everything for us and our great country!

Fraternally yours,

Frank Taffora

President/ Business Manager