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Indiana Union Wage and Welfare Bond Guide

In Indiana, you may need to file a surety bond if you employ unionized workers. This creates a financial guarantee that you will pay owed wages and benefits, contribute to welfare funds, and more. 

Quick Bond Facts

  • Purpose: To protect union-member interests in collective bargaining agreements between unions and employers
  • Who Needs It: Employers of union members in various industries, especially construction and specialized trades such as plumbers, iron workers and electricians
  • Premium Rates: Vary based on financial risk, typically 1–10% of the coverage amount

Use this guide to learn all about how wage and welfare bonds work in Indiana then apply for your free quote. 

What Are Indiana Union Wage and Welfare Bonds? 

Indiana wage and welfare bonds, also known as wage bonds and fringe benefit bonds, are required for employers when negotiating collective bargaining agreements (CBAs) with certain unions. 

This type of surety bond guarantees a union-member employer will honor financial obligations and union contracts, including: 

  • Payment of union dues
  • Contributions to funds
  • Delivery of benefits packages 

Each particular bond form has unique terms for the union requiring it.

How Much Do Union Wage Bonds Cost in Indiana?

Employers with a strong financial standing often pay a premium price of 1-5% of the total Indiana wage and welfare bond amount. However, these bonds require underwriting review and may cost anywhere from 0.5% to 10% depending on various risk factors.  

Request a free quote today to get your exact rate.

Bond Type
$20,000Construction Workers of Lake County and Vicinity and HRA Fund Wage and Fringe Benefit Bond1 through 10 men
$30,000Construction Workers of Lake County and Vicinity and HRA Fund Wage and Fringe Benefit Bondat 15 men
$40,000Construction Workers of Lake County and Vicinity and HRA Fund Wage and Fringe Benefit Bondat 20 men
$50,000Construction Workers of Lake County and Vicinity and HRA Fund Wage and Fringe Benefit Bondat 25 men
$60,000Construction Workers of Lake County and Vicinity and HRA Fund Wage and Fringe Benefit Bondat 30 men
$15,000Construction Workers Pension Trust Fund of Lake County and Vicinity Wage and Fringe Benefit Bondamount of the surety bond will be based on a yearly man-hour average report: 1-9 men
$30,000Construction Workers Pension Trust Fund of Lake County and Vicinity Wage and Fringe Benefit Bondamount of the surety bond will be based on a yearly man-hour average report: 10-19 men
$50,000Construction Workers Pension Trust Fund of Lake County and Vicinity Wage and Fringe Benefit Bondamount of the surety bond will be based on a yearly man-hour average report: 20-39 men
$100,000Construction Workers Pension Trust Fund of Lake County and Vicinity Wage and Fringe Benefit Bondamount of the surety bond will be based on a yearly man-hour average report: 40+ men
$25,000District Council 91 of the International Union of Painters and Allied Trades, AFL-CIO Contractors Wage Bond
$1,000-$100,000IBEW Local 305 Bond
$1,000-$100,000IBEW Local 855 Wage and Fringe Benefits Bond
$1,000-$50,000IBEW LOCAL UNION 16 Wage and Fringe Benefits Payment Bond
$1,000-$100,000International Union of Operating Engineers Local Union No. 103 Wage & Welfare Bond
$15,000International Union of Operating Engineers Wage and Fringe Benefits Bond
$1,000-$100,000Local 20 Contractor's Wage, Wage Deduction and Fringe Benefit Bond
$1,000-$100,000Local 692 Contractors Wage and Fringe Benefits Bond
$1,000-$100,000Mid Central Operating Engineers and International Union of Operating Engineers Local No. 841 Fringe Benefit Bond
$1,000-$100,000Plumbers and Steamfitters Local 166 Bond
$100-$100,000Local 4 Bricklayers and Allied Craftworkers Wage and Welfare Bond
$1,000-$100,000Indiana Kentucky Ohio Regional Council of Carpenters Union Wage & Welfare Bond
$25,000Northwest Ohio Region Contractor Bond to Secure Payment of Wages and Welfare Benefits10 or fewer employees
$75,000Northwest Ohio Region Contractor Bond to Secure Payment of Wages and Welfare Benefits11-25 employees
$150,000Northwest Ohio Region Contractor Bond to Secure Payment of Wages and Welfare Benefits26+ employees
$50,000Local Union 873 Contractors Wage and Benefit Bond

SuretyBonds.com offers the lowest rates available from our nationwide network of surety providers with no added fees. 

How Does an Indiana Union Wage and Welfare Bond Work? 

An Indiana wage and welfare bond binds three parties in a legal contract: 

  1. Principal: The company employing union members
  2. Obligee: The union requiring the bond to protect employee interests 
  3. Surety: The provider issuing the bond and backing the principal’s obligation

If a principal fails to uphold its obligations, the bond can be used to pay claims for owed dues, wages, and fringe benefits up to the full coverage amount. 

How Do I Get a Wage Bond in Indiana? 

You may need a surety bond before you can hire employees who are members of certain unions. If that’s the case for you, SuretyBonds.com provides the fastest and easiest way to get a wage and welfare bond:

  1. Application: Submit an online quote request.
  2. Quote: Receive your free quote within one business day.
  3. Signatures: Sign your indemnity agreement and bond form.
  4. Delivery: Receive your official bond form via email or FedEx.

File the bond documentation with the obligee as instructed. If the union requires the original bond form with wet signatures, we offer an overnight shipping option. Otherwise, we’ll email your official bond as soon as it’s processed.

Can I Get Bonded With Bad Credit? 

Yes, you can often still get a wage bond even with low credit. We’ll work with our network of surety markets across the nation to match you with a surety provider at the lowest available rate. Learn more about how credit score impacts bond premium rates here. 

How to Renew Your Union Wage and Welfare Bond

Union wage and welfare bonds in Indiana typically last for a one-year term. Each bond has unique terms, but most can be renewed without the need to issue a new bond form. 

When you choose SuretyBonds.com, we’ll contact you during the renewal period with an invoice and instructions on how to keep your bond policy active for another term. 

More Resources

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