Lake County pension wage & fringe bonds.
From $100.
The Construction Workers Pension Trust Fund of Lake County and Vicinity requires signatory contractors to post a wage and fringe benefit bond guaranteeing covered wages and fund contributions. The fund sets the amount; this is a private requirement, not an Indiana statute. Premiums cost 4% of the bond amount, $100 minimum.
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How much does a Lake County pension wage & fringe bond cost?
4% of the bond amount, from $100. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
No long underwriting queue for the standard wage and fringe bond — enter your amount, consent to a soft pull, and file with the fund. Here is the whole thing:
Apply online
Your company details, the bond amount the trust fund set, and the effective date — plus a one-time consent to a soft credit pull.
Approved
Most wage and fringe bonds clear quickly. The application includes a credit consent, but it authorizes a soft pull only — a soft inquiry that never affects your score. Larger amounts may get a brief review.
File with the fund
Your executed bond and power of attorney arrive by email, ready to file with the Construction Workers Pension Trust Fund of Lake County. Wet-ink originals mailed on request.
What it is and who needs it.
What the wage & fringe benefit bond actually guarantees
The Construction Workers Pension Trust Fund of Lake County and Vicinity is a multi-employer defined-benefit pension fund based in Merrillville, Indiana, established in 1960 through collective bargaining agreements between unionized construction employers and labor organizations serving Northwest Indiana. It provides retirement, disability, and survivor benefits to covered workers, funded entirely by employer contributions.
A signatory contractor covered by the applicable collective bargaining agreement is required to post a wage and fringe benefit bond guaranteeing timely payment of covered wages and remittance of contributions to the fund. It is a three-party arrangement: you (the principal), the surety carrier, and the trust fund and its trustees (the obligee / protected party). If a signatory contractor fails to pay, the fund can recover against the bond.
It is not insurance for you — if the surety pays a claim, you repay the surety. The required amount is set by the fund from a yearly man-hour average report, publicly described as ranging roughly from $15,000 for a small crew (1–9 workers) up to $100,000 for a 40-or-more-worker crew. Enter the figure the fund set; premiums price at 4% of that amount, $100 minimum, and the application includes a credit consent that authorizes a soft pull only.
You need this bond if you are
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The premium covers a one-year term from the effective date you choose.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
File with the fund. Your executed bond and power of attorney arrive by email, ready to file with the Construction Workers Pension Trust Fund of Lake County. Wet-ink originals mailed on request.
What sets the price
The premium is 4% of the bond amount, $100 minimum: the amount the obligee sets moves the price, not your business profile.
One soft credit pull, never a hard inquiry, and it never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, then a quick review.
Submit the application with the bond amount the fund set on your man-hour report. Most clear quickly; larger amounts may get a brief underwriter review, usually within 48 hours.
Start the application →Common questions.
Other Indiana bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Lake County signatory status waiting on one bond.
Premiums from $100, priced at 4% of the bond amount. Enter your required figure and file with the fund the same day.