How are Union Wage and Welfare Bonds Used?

How are Union Wage and Welfare Bonds Used?

By | 2018-04-25T13:56:33-07:00 March 28th, 2018|0 Comments

A union member signs a wage and welfare bond upon the start of employment in a union job or upon joining a union. This bond establishes a contractual debt on the behalf of the employee, also known as dues, which the employee must pay to retain his union position. When an employee does not pay dues, the union may make a claim on the bond to recoup lost funds. Labor union bonds are typically funded through union laborer wages, union dues, excess funds for benefits and other collateral funds.

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