20 for Transparency Operating Engineers

Since the 2008 Global Financial Crisis, over 90% of union pensions have fully recovered to 100% or more funding. Not our OE3 Pension. Click on the links below and the updates to see about our low funding status, high fees and poor performance. It is all documented based on public sources.

This fundraiser is to hire outside, independent professionals to do a forensic study on behalf of the members. The board of trustees has never done an independent study or surveyed the marketplace on fees and performance. Is that prudent under ERISA?

Click here OE 3 PENSION to learn how our funding status compares to other Northern California construction pension funds and national averages. Why are so many other union pensions 100% funded while OE3 Pension is at 80.7% as of 2022 DOL Form 5500 filing?

Click this UPDATE (and then "Skip Advertisement") to see a comparison of fees the OE3 Pension Fund pays for investment services compared to other OE pension funds that pay the same investment consultant. Why do we pay 3-4x more? Under ERISA, only "reasonable" fees can be paid.

My name is Vern Barnes. I have been a member in good standing in the Operating Engineers local #3 for 39+ years and completed my 10 week POP at RMTC in 1980, class C20.