upWE NEED HELP UBC LOCAL 9 BUFFALO NY
UBC LOCAL 9 PENSION IS SOON TO BECOME INSOLVENT, WE HAVE WRITTEN LETTER TO MR. MCCARRON, AND AS OF YESTERDAY WE HAVE HAD NO RESPONSE FROM HIM. I AM COPYING A LETTER THAT I WROTE TO ALL OF THE LOCALS THROUGHOUT THE COUNTRY,
I HAVE NOT GOTTEN MUCH FEEDBACK YET AND I AM HOPING THAT MY LETTER COULD BE BROADCAST TO THE MEMBERS OF PUT IN THE WEB PAGE. WE CAN USE ALL OF THE HELP THAT WE CAN GET 1500 FAMILIES IN BUFFALO ARE ABOUT TO LOSE THERE PENSION, DUE TO MISMANAGEMENT BY THE ACTUARY FIRM AND THE PREVIOUS ADMINISTRATION, WHICH I MIGHT ADD WAS RUN THE SAME WAY THAT MCCARRON IS RUNNING THE INTERNATIONAL
EVERYONE SHOULD BE CONCERNED ABOUT THE INFORMATION THAT IS IN THIS LETTER,
PLEASE CONTACT ME FOR FURTHER INFORMATION OR ANY QUESTIONS.
I am the wife of a union carpenter, who has been a loyal member of Local 9 for over 33 years. The Buffalo Carpenters Local 9 Pension Fund is in serious jeopardy. The actuary firm of Martin E. Segal Company had worked for the last 10 years with the local trustees in the handling of Local 9's Pension Fund.
Thomas Burke, the current President of Local 9 has uncovered the fact that the local will need approximately $65 million dollars to make the fund solvent. A lawsuit has been filed against the past President of Local 9, Terrence Bodewes, the trustees of Local 9, and the actuary firm of Martin E. Segal Company.
The Martin E. Segal Company is still employed by a large number of Carpenter Pension Funds around the country. Is your Local one of them? Please help the families of Local 9 and yourselves by asking your Local Fund office if it does in fact do business with the Segal Company and if so, do they realize the difficult situation faced by the Union Carpenters in Buffalo, New York.
Enclosed you will find a letter sent to the General President, Mr. McCarron, from the Executive Board of Local 9, giving more detailed information on the serious nature of this along with information on what has been proposed to President McCarron. The only response that the Local has received as of April 3, was from William Michalowski, a General Executive Board Member.
Our local Congressman, Mr. Jack Quinn has also contacted Mr. McCarron and was told that he could not help the Local. It was not all that long ago that all of the Locals as a "Brotherhood" were asked to help bailout the International from a $90 million dollar mismanagement problem.
Brothers and Sisters we need your help! Through no fault of their own, fifteen hundred loyal carpenters and their families, are facing economic ruin. The enclosed letter explains a "bailout" option that was proposed to President Mr. McCarron that could help to save the Pension Plan. This plan could also be implemented and used again if needed by another local facing a similar situation. This would also set an example for all Unions around the Country as to what the true meaning of "Brotherhood" is, apparently, something that the current president, Mr. McCarron has lost sight of. For your information another lawsuit naming President McCarron and Terrence Bodewes has also been filed involving yet another Pension Fund in California.
Anyone interested in finding out more information, that I am sure is not public knowledge, can go on the Internet and go to the site - http://unionplainfacts.com, this site is very informative. President McCarron is mentioned many times as a leader that is only looking out for himself, not the "Brotherhood".
I feel that it is time to take a hard look at the current leadership and at the direction the Brotherhood is headed. The Union Carpenters of Local 9 in Buffalo, New York finally have a President, Mr. Thomas Burke, who cares about the Union, knows the meaning of "Brotherhood" and is not afraid to take a stand to see that the injustices that have been done are made right.
I am also asking that you contact your government representatives and tell them that they need to fight to have the EMPLOYEE RETIREMENT INCOME SECURITY ACT of 1974 (ERISA) changed. The Federal Pension Benefit Guaranty Corporation (PBGC) guarantees benefits under private multi employer pension plans. This guarantee is funded by premiums paid by the covered pension plans - (tax dollars are not used). The amount of the PBGC's multi employer plan guarantee was set at a relatively low level in 1980, and has not been increased since. The maximum annual guarantee is $5,850 for a retiree with 30 years of service, and $3,900 for a retiree with 20 years of service.
By contrast, the maximum annual guarantee under PBGC's guarantee program for a single employer pension plan is indexed to the Social Security contribution and benefit base, and has grown to $38,659.
The Buffalo Carpenters Web Page will be up soon, I am sure that they would appreciate hearing from you, please let them know your concerns and feeling on the enclosed issues.
I sincerely hope that this letter will be read at your monthly meeting as a way of informing all of your members as to what is happening to Local 9 and some of the other locals around the country. The Brotherhood must change and unite, this is the only way that the union will be strong again.
Everything that has been written in this letter and the enclosed information is public knowledge and has been written in the local newspapers in Buffalo, New York.
Mrs. Leonard (Linda) Chojnacki