BULLETIN
To: Contributing Employers to the Steel Institute of New York, Inc.
From: Steven N. Davi
Date: January 8, 2024
Re: Local Union Nos. 40 and 361 PLA Rates
Effective: January 1, 2024 – June 30, 2024
The following project labor agreement (“PLA”) rates are effective January 1, 2024, through and
including June 30, 2024, for Locals 40 and 361 Structural Iron Workers on projects covered by
PLAs providing for alterations in the collectively-bargained economic package.
A. PLAS PROVIDING FOR 10% RATE REDUCTION (Except the Hudson Yards PLA below)
Journeyman; Foreman
Wage Rates*
| Journeyman: Foreman: |
$54.07 per hour $57.07 per hour |
Trust Fund Contribution Rates
| Pension Fund: | $15.86 per hour |
| Health Fund: | $15.57 per hour |
| Annuity Fund: | $13.67 per hour |
| Topping Out Fund : | $12.37 per hour |
| Vacation Fund: | $19.08 per hour* |
| JAC Fund: | $0.58 per hour |
| IMPACT: | $0.34 per hour |
| Intl. Organizing Fund: | $0.20 per hour* |
| Steel Institute of New York: | $0.30 per hour |
Local 40 Working Assessment: $2.45 per hour
Local 361 Working Assessment: $3.08 per hour
Please Note: The wage rates and trust fund contribution rates for Apprentice Iron Workers on
the above PLA projects shall be at their usual hourly rates. All working assessments shall be
deducted from employees’ wages.
IISteelInstituteofNewYork
P a g e | 2
270 Madison Avenue | Suite 401 | New York, New York 10016 | 212.697.5553 | www.siny.org
* Taxable
270 Madison Avenue | Suite 401 | New York, New York 10016 | 212.697.5553 | www.siny.org
B. PLAS PROVIDING FOR 20% RATE REDUCTION
Journeyman; Foreman
Wage Rates*
| Journeyman: | $50.44 per hour |
| Foreman: | $53.44 per hour |
Trust Fund Contribution Rates
| Pension Fund: | $15.86 per hour |
| Health Fund: | $15.57 per hour |
| Annuity Fund: | $10.04 per hour |
| Topping-out Fund: | $8.74 per hour |
| Vacation Fund: | $15.45 per hour* |
| JAC Fund: | $0.58 per hour |
| IMPACT: | $0.32 per hour |
| Intl. Organizing Fund: | $0.19 per hour* |
| Steel Institute of New York: | $0.30 per hour |
Local 40 Working Assessment: $2.29 per hour
Local 361 Working Assessment: $2.92 per hour
Please Note: The wage rates and trust fund contribution rates for Apprentice Iron Workers on
the above PLA projects shall be at their usual hourly rates. All working assessments shall be
deducted from employees’ wages.
* Taxable
C. HUDSON YARDS PLA PROVIDING FOR 10% RATE REDUCTION
Journeyman; Foreman
Wage Rates*
| Journeyman: Foreman: |
$54.07 per hour $57.07 per hour |
Trust Fund Contribution Rates
| Pension Fund: | $15.86 per hour |
P a g e | 3
Apprentices
per hour
270 Madison Avenue | Suite 401 | New York, New York 10016 | 212.697.5553 | www.siny.org
| Health Fund: | $15.57 per hour |
| Annuity Fund: | $13.67 per hour |
| Topping-Out Fund: | $12.37 per hour |
| Vacation Fund: | $19.08 per hour* |
| JAC Fund: | $0.58 per hour |
| IMPACT: | $0.34 per hour |
| Intl. Organizing Fund: | $0.20 per hour* |
| Steel Institute of New York: | $0.30 per hour |
| Local 40 Working Assessment: | $2.45 per hour |
Wage Rates*
| Probationary Apprentice | |
| (Months 1 through 6): Apprentice |
$27.70 |
| (Months 7 through 18): Apprentice |
$28.30 per hour |
| (Month 19 forward): Trust Fund Contributions |
$28.91 per hour |
| Pension Fund: | $15.86 per hour |
| Health Fund: | $15.57 per hour |
| Annuity Fund: | $5.99 per hour |
| Topping-Out Fund : | $6.29 per hour |
| Vacation Fund: | $9.88 per hour* |
| JAC Fund: | $0.58 per hour |
| IMPACT: | $0.34 per hour |
| Intl. Organizing Fund: | $0.20 per hour* |
| Steel Institute of New York: | $0.30 per hour |
Local 40 Working Assessment: $1.33 per hour
All working assessments shall be deducted from employees’ wages.
* Taxable
D. HUDSON YARDS PLA PROVIDING 10% PREMIUM RATES FOR SHIFT WORK
P a g e | 4
270 Madison Avenue | Suite 401 | New York, New York 10016 | 212.697.5553 | www.siny.org
Journeyman; Foreman
Wage Rates*
| Journeyman: | $57.34 per hour |
| Foreman: Trust Fund Contributions |
$60.34 per hour |
| Pension Fund: | $15.86 per hour |
| Health Fund: | $15.57 per hour |
| Annuity Fund: | $16.94 per hour |
| Topping Out Fund : | $15.64 per hour |
| Vacation Fund: | $22.35 per hour* |
| JAC Fund: | $0.58 per hour |
| IMPACT: | $0.36 per hour |
| Intl. Organizing Fund: | $0.22 per hour* |
| Steel Institute of New York: | $0.30 per hour |
Local 40 Working Assessment: $2.59 per hour