During the two days of bargaining in Denver on July 29th and 30th talks focused on Article XI Vacancies and Article XX Safety and Health. Negotiations on Article XI Vacancies involved a great deal of discussion on temporary assignments and how to ensure the system is fair and equitable. When discussions moved to Article XX Safety and Health, the parties covered the role of Union EAP reps. The Teamster negotiating team emphasized the clear value of having trained Union EAP reps that can provide quality face-to-face assistance to the membership.
Union Pension Sub-Committee Meets
Led by Chief Negotiator Clacy Griswold and IBT attorney and pension expert Ed Gleason, the Union Pension Sub-Committee met in Denver, Colorado on July 30th, 2009.
Mr. Gleason briefed the committee on Pension issues, explaining that the stock market and stricter funding requirements created by the Pension Protection Act played a significant role in the financial strain and outright disappearance of "single employer" pension funds (such as United's old plan). Mr. Gleason went on to outline the advantages of "multi-employer" pension plans. For example, the Western Conference of Teamsters Pension, as a "multi-employer" plan, has over 5,000 employers making contributions to the plan creating the type of funding diversification that ensures stability.
The Teamsters feel strongly that that market volatility associated with a 401k means it is not an adequate replacement for a real pension. The Teamsters view a better role for a 401k as a supplement to a strong "multi-employer" pension plan such as the Western Conference Pension.
The committee was briefed on the strength of the Western Conference Pension Plan, Mr. Gleason summarizing it by stating: "The Teamsters Western Conference Plan is absolutely one of the best multi-employer pension funds in the nation."
Please see the attached document for the comprehensive negotiation update, or to view online, please visit: www.IBTUALNegotiations.com
