Operating Engineers Union Wants Permission to Lend Itself Machinery Funds
Published Date: 9/10/2025
Notice
Summary
The International Union of Operating Engineers Local 627 wants to lend money to their Training Fund to buy heavy machinery. Normally, this kind of loan breaks the rules, but they’re asking for a special okay to make it happen. If approved, the Plan can get the equipment it needs without breaking any laws, helping workers train better and faster.
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Proposed OK for Union Loans
A proposed exemption would allow the International Union of Operating Engineers Local 627 to make certain loans to its Training Fund that would otherwise violate prohibited transaction rules under ERISA. If the exemption is granted, the union could lend money to the Plan without triggering those ERISA violations.
Training Fund Can Buy Heavy Machinery
The proposed exemption would permit the Training Fund to receive loans from Local 627 so the Plan can purchase heavy machinery. That access to equipment is intended to help workers train better and faster under the Plan's mission.
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