A labor group has picked a retirement plan administrator.
The board of the annuity fund that serves 5,000 members of locals 15, 15A, 15B, 15C, 15D in the International Union of Operating Engineers, Washington, has hired New York Life Retirement Plan Services, Westwood, Mass., to administer the fund’s defined contribution retirement plan.
The plan manages about $650 million in participant assets, according to New York Life Retirement, a unit of New York Life Insurance Company, New York.
The Operating Engineers union is part of the American Federation of Labor – Congress of Industrial Organizations, Washington.
Members of the union include heavy equipment operators, shop machinists and surveyors.
The union members in the plan New York Life will be serving work in New York.