IUOE Local 181 wage & welfare bonds.
From $100.
A contractor that signs a collective bargaining agreement with IUOE Local 181 in Henderson can be asked to post a wage and welfare bond securing its fringe-benefit contributions to the Local's Health & Welfare Fund. Your agreement or the fund trustees set the amount. Premiums cost 4% of the bond amount, $100 minimum.
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How much does an IUOE Local 181 wage & welfare 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 welfare bond — enter your amount, consent to a soft pull, and file with the Local. Here is the whole thing:
Apply online
Your company details, the bond amount your agreement or the fund trustees required, and the effective date — plus a one-time consent to a soft credit pull.
Issued
Pricing is 4% of the bond amount, $100 minimum. Most applications approve instantly; larger amounts may get a brief underwriter review, and any check that runs is a soft pull that will not touch your score.
File with IUOE Local 181
Submit the executed bond to the Local or its Health & Welfare Fund office to satisfy your signatory obligation. Wet-ink originals mailed whenever the fund insists.
What it is and who needs it.
What the wage and welfare bond actually does
A union wage and welfare bond (also called a wage and fringe bond or collective bargaining bond) is security a union local requires of a signatory employer — one that has agreed by collective bargaining agreement to pay specified wages and to make contributions to the union's benefit fund. IUOE Local 181, the Operating Engineers local headquartered in Henderson, uses a bond in this named form to protect its members' pay and benefits when an employer falls short.
The obligee is the Local and its associated Health & Welfare Fund, which administers members' medical, pension, training, and related benefits. The principal is the signatory employer. If the employer fails to remit agreed wages or fund contributions and the fund or a member is harmed, a claim can be made against the bond up to its face amount — and if the surety pays, the employer repays the surety. It is a fringe-benefit backstop, not insurance for the employer.
There is no single statewide statutory amount for this bond — Local 181 and its fund trustees set the figure that fits the agreement, generally scaled to the employer's expected payroll and contribution volume. This is a private contractual requirement arising from the CBA, not a Kentucky statute — enter the amount your agreement or the trustees required, and we price it from a $100 minimum after a quick soft credit check that never affects your score.
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 IUOE Local 181. Submit the executed bond to the Local or its Health & Welfare Fund office to satisfy your signatory obligation. Wet-ink originals mailed whenever the fund insists.
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.
These are the actual underwriting fields, including your bond amount and a one-time consent to a soft credit pull that never affects your score. Pricing is 4% of the bond amount, $100 minimum.
Start the application →Common questions.
Other Kentucky bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Signatory agreement, one filing away.
Premiums from $100, priced at 4% of the bond amount. Enter the figure your agreement set and file with Local 181 the same day.