• Dec

    05

    2019

    error_outline
    Important Notice to Employers Regarding Late Payments
    add View Story

    In accordance with the Funding Rehabilitation Plan, Laborers National Pension Fund will assess interest at the rate of 1% per month from date owed to date paid, effective January 1, 2020. Contributions are due no later than the 20th of every month.

    For those of you not utilizing our electronic remittance system, I-Remit, we encourage you to contact the Fund Office to sign up today. This will ensure timely payment and is a great resource to view your payment history.

  • May

    01

    2019

    2018 1099-R Mailing
    add View Story

    All 1099-Rs were mailed on January 22, 2019. If you did not receive your 1099-R by February 15, 2019, please contact the Fund Office. We will be happy to mail you a copy upon your request.

  • May

    01

    2019

    Redesigned Website!
    add View Story

    Participants can view their credit history, update their census data and request information relating to their pension benefits. Employers can enjoy the convenience and security of i-Remit, our online application that allows for the electronic submission of monthly remittance reports and payment. Other valuable materials may be referenced, including the Fund’s Rules & Regulations and our most recent Annual Funding Notice. Be sure to check out our Documents and Resources page. We hope you like the changes. If you have any questions or feedback, please let us know by e-mailing us.

  • May

    01

    2019

    i-Remit Portal
    add View Story

    We launched I-Remit at the end of 2018 and the feedback from employers has been extremely positive! This application saves companies money by reducing paper, printing and postage expenses – not to mention the time it takes to complete and verify each month’s remittance reports. Additionally, by electing to submit your reports and contributions electronically, we are able to update your employee’s benefits in just a few keystrokes.

    I-Remit is a secure online tool that eliminates duplicate entry of remittance data and saves you time and money. The I-Remit System accurately captures, manages, and transfers contribution data electronically, allowing you to upload and submit reports online and make direct electronic payments to the Fund Office.

    The program is very user friendly. Below is a glimpse as to how it works. If you are interested, please let us know so we can set you up on our side and provide you with your user ID and Password, along with a copy of the user guide. You may either email Michelle Miller at mmiller@lnpf.org or Robin Waggoner at rwaggoner@lnpf.org and either of us will be happy to assist you and answer any questions.

    How I-Remit Works:
    • Step 1: Login to a secure website using a unique user id and password
    • Step 2: Select the remittance reporting period
    • Step 3: Input remittance data using one of the following methods:
      • Upload payroll files
      • Adjust a form pre-populated with prior remittance data
      • Manually input data
    • Step 4: The system calculates the contributions due based on pre-defined rate tables
    • Step 5: Submit online payment directly to the Fund Office or print a remittance voucher to mail with payment

    We hope you find I-Remit beneficial and should you have any questions or comments, please let us hear from you.

  • May

    01

    2019

    2017 Annual Funding Notice
    add View Story

    Federal pension law requires multiemployer pension plans, including the Laborers National Pension Fund, to distribute this annual notice in a particular format set by regulations. The information included in the notice, as required, does not necessarily show the condition of the Pension Fund at the present time (April 2018). During 2017, the Board of Trustees adopted a Funding Rehabilitation Plan to restore the Pension Fund’s funding to its traditionally solid condition over the next 10 years. The Funding Rehabilitation Plan is designed to increase the Pension Fund’s income and reduce its liabilities by required increases in employer contribution rates and adjustments in benefits.

    Read Full Notice trending_flat
  • May

    01

    2019

    New Document Uploaded - LNPF Zone Status for 2018
    add View Story

    To All Participants, Beneficiaries in Pay Status, Participating Unions, and Contributing Employers:

    The Pension Protection Act of 2006 (PPA) amended federal pension laws to set tougher funding standards for multiemployer pension funds like the Laborers National Pension Fund (the “Fund”). The Fund is required by the PPA to send you this Notice that the Fund’s actuary has submitted to the U.S. Department of the Treasury an annual certification of the Fund’s PPA funding zone status. This Notice is also intended to inform you that the Fund is considered to be in Critical (Red) Zone” status for 2018, as expected and planned for.

    Read Full Notice trending_flat
  • May

    01

    2019

    New Document Uploaded - LNPF Funding Rehabilitation Plan and Charts
    add View Story

    In general, the law requires the Board of Trustees to adopt a “rehabilitation plan” to restore the LNPF’s financial strength over a period of 10 to 12 years. A rehabilitation plan must comply with certain legal requirements. It must include “schedules” of contribution rate increases and benefit changes designed to increase income and reduce benefit costs. The parties to each collective bargaining agreement requiring employer contributions must adopt a schedule authorized under the rehabilitation plan that will apply with regard to employees (participants) covered by the bargaining agreement. The parties may re-open their current collective bargaining agreement to adopt a schedule, or may wait until the current agreement is renegotiated in the normal course to adopt a schedule. The PPA provides for imposition of a “default schedule” after the current agreement expires if the parties are unable to agree on an authorized schedule.

    As legally required, the Board of Trustees, assisted by actuaries and other professional advice, developed and adopted on July 26, 2017 a rehabilitation plan that is called the “Funding Rehabilitation Plan” or “FRP”. The FRP’s terms and conditions are described in the document.

    Download Full Document
    View Plan Charts
  • May

    01

    2019

    New Member Portal
    add View Story

    The Member Portal allows for you to view your beneficiaries, pension information, and more.