February 3, 2015: A review of the 3rd quarter 2014 financial report of the Central States Pension Fund shows that the fund has $18 billion as of September 30, 2014.
Compared to the previous year, the fund saw a net investment income decline of $1.2 billion but it was offset slightly by a $94,953 net increase in operating income. The report provides no explanation for the investment income downturn though it states that Trustees met with the named fiduciary, Northern Trust.
The report, filed January 26, 2015, mentions passage of the Multiemployer Pension Reform Act of 2014 but states, “it is too soon to assess the potential impact of this complex legislation on the Pension Fund.”
Teamsters for a Democratic Union (TDU) is working to fight any pension cuts and build a movement for pension justice.Pension and Benefits
The Transportation Safety Board (TSB) of Canada says it remains concerned about the federal government’s legislative oversight of rail safety, 18 months following the derailment, explosions and fires that killed 47 people and leveled much of downtown Lac-Mégantic, Quebec (Globe and Mail). Both the TSB and the Auditor-General have found significant flaws in the oversight of in-house safety management plans developed by railway companies. Some railway safety experts have gone further and accused the federal government of letting railway corporations regulate themselves. While the TSB acknowledged progress on some rail safety issues, it said Transport Canada must do more to ensure railway companies are following their safety management plans.
During the past 2 decades, the TSB has made many safety-related recommendations as part of their investigations of derailments and other railway accidents and incidents, but many of their recommendations have not been adequately addressed or not addressed at all by rail companies or Transport Canada. Deteriorating rail infrastructure, dangerous goods tank cars that puncture easily during derailments, and insufficient adherence to safety measures by railway company senior management, have led some railway employees to label crude oil trains as “BOMB TRAINS”.
Filed under: Safety
From Trade Onion
London’s busy Leicester Square was the scene on Saturday, January 17th, for a picket organised by the IWW London general membership branch with the support of the Angry Language Brigade. The Leicester Square School of English (LSSE) was closed down over the Christmas period leaving workers out of work and out of pocket.
Workers decided to occupy the workplace in the hope of getting the money that they’re owed in unpaid wages, holiday pay and redundancy. Whilst they were there a group of students arrived expecting to be taught English only to find that the school had closed. The bosses had taken their money and not told them they were closing the school down. The workers have helpfully provided information for any students that turn up in future.
Anyone who thinks that congressional votes, federal regulations and the machinations of Wall Street have no bearing on their day-to-day lives should talk to John Raffiani Sr.
The Greene County resident is getting a hard lesson in what could be called the downside of deregulation, the decline of unions and the lingering effects of the 2008 recession.
He's one of at least 50 retired Capital Region truck drivers facing a deep cut in their monthly retirement checks due to looming shortfalls in their union pension funds.
The cuts will be allowed thanks to an amendment that was tucked into the most recent federal budget, which was approved by Congress and signed by President Barack Obama in December.
About 100,000 New Yorkers who depend on a variety of private-sector union pensions could be facing lowered payments in coming years.
And while the pension fund that Raffiani relies on, the Teamsters' Central States Pension Fund, is the most prominent and most threatened pension fund right now, the amendment opens the door for potential future cuts to an estimated 10 million retirees nationwide who are enrolled in "multi-employer" pension plans.
Raffiani and others want to know how such a measure was folded into the larger budget rather than debated on its own. "I worked hard for 35 years," said the 68-year-old. "I paid a lot of money over time into that fund."
Raffiani was a Teamster "car hauler," a truck driver who specialized in transporting new cars to dealerships around the Northeast.
Everyone has seen them — the big rigs with double-decker trailers laden with shiny new vehicles.
In the trucking world, this is an elite group: Drivers not only deliver the valuable cars, but they need to get them on and off their trailers without a scratch. Raffiani and his fellow drivers transported cars from the vast rail yards in Selkirk to dealerships across the region.
He was enrolled in the Teamsters' Central States Pension Fund, which has more than $17 billion in assets. Despite that, a confluence of trends threatens the fund's long-term solvency.
Since the trucking industry was deregulated in 1980, there have been fewer big companies paying into the plan, and even fewer union drivers contributing to the fund. Add in the lingering hit from the 2008 financial crash and the plan, which now pays $4 in retirement funds for every dollar it's collecting, is facing long-term peril.
As a result, the fund's managers sought and got permission from Congress to make the cuts if needed.
Raffiani says his approximately $3,000 monthly pension could be cut almost in half.
It should be a while before that occurs, according to the union, but most expect it to happen by 2016.
Raffiani got into the car hauling business almost by chance, and he stuck with it as he gained experience and seniority.
He began driving concrete trucks after high school, but that was seasonal. When he got the chance to haul cars, he jumped.
In his best years, Raffiani earned more than $50,000 with benefits. Some drivers made twice that if they were willing to drive all the time and spend weeks away from home.
It was never easy, though. As well as driving for 10 hours at a stretch, car haulers have to load the new vehicles on their trailers, then chain them securely in place. It can take a few minutes or few hours, said Raffiani, depending on the vehicles. The job also requires clambering around a double-decker trailer in all kinds of weather, day and night, using heavy steel rods or tie-down bars to secure the chains holding the cars.
"The bars do a number on you," Raffiani said, adding that all the fellow car haulers he knows have chronic shoulder problems. "That bar could slip and knock out your teeth."
He remembers the time another hauler lost four fingers when a rod slipped in a particularly bad way.
Another driver died after he was pinned between two cars he was unloading in Newburgh. A Canadian hauler slipped off his trailer one frigid night near the border and landed on his head.
Raffiani considers himself lucky: He got out with the usual shoulder pain and only three hernia operations.
He traveled mostly in New York and New England, although some trips took him as far as Montana and Oklahoma.
Shortly after he started in the business, he noticed an odd phenomenon to which he didn't give much thought at the time.
The companies that had contracts to haul cars seemed to be endlessly changing, especially after deregulation.
They were being taken private or public. Or going bankrupt and reorganizing under different names or owners.
Raffiani has a hard time keeping all his employers straight — many don't exist any more, or have gone through numerous iterations.
He started his career with Anchor Motor Freight and then went to Leaseway. Then it was NuCar. After that he was at M&G Convoy, Automobile Transport and Ryder, and so on.
Some of the firms didn't seem well-managed. He recalls one that got a contract with an unusually low bid — it turned out the Georgia-based owners didn't realize there are road tolls in New York and New England. "Right away, they were in serious trouble," he said.
In retrospect, the game of musical trucks resulted from deregulation. Prior to the 1980s, car hauling was governed by strict federal rules about where trucks could or couldn't go. That limited the competition. Deregulation, especially the Motor Carrier Act of 1980, meant more and more people could enter the business. That may have helped lower shipping costs, but with an ever-expanding list of companies, the pay for the drivers fell and union shops became less competitive.
"Pretty much anybody could haul what they wanted when they wanted to,'' said Raffiani.
For pension funds like the Central States, which has 411,000 members, one result was that fewer and fewer drivers are paying into the plan. Currently, Central States has just one active employee for every five retirees.
Raffiani isn't sure how many fellow retirees know about the looming cuts. He's been trying to get the word out and has spoken with groups like Teamsters for a Democratic Union, which has criticized the union's leadership on this issue.
The Washington, D.C.-based Pension Rights Center is keeping track of the possible cuts and they are pushing the union to keep searching for alternatives.
AARP has sounded the alarm as well, saying they are worried about the precedent it could set.
Some criticize the way the amendment, which was pushed through by Republican Rep. John Kline of Minnesota and Democrat George Miller of California, was inserted into the larger budget bill. They say that had it been a stand-alone measure, there would have at least been more debate.
"Because it was attached to what many viewed as 'must-pass' legislation, many believe there was no choice," said Joellen Leavelle, outreach manager for the Pension Rights Center.
"Whether or not they even knew what they were voting for is another story," Raffiani said of the lawmakers who voted for the overall budget package.
In the aftermath, Raffiani is considering his options. He has renewed his hazardous materials license, which would allow him to drive a fuel truck — at his age, he doesn't want to climb around on car hauler trailers. He drives a school bus part time and refurbishes vacuum cleaners on the side, and thinks about ramping up that business.
He's also looking at opening a small cafe with his wife, who he says is a top-notch cook.
Raffiani has two children in the area, including a son who joined the Air Force years ago. He's already retired with a secure government pension in Georgia, where heating costs and taxes are fraction of what Raffiani pays.
"I've been sick ever since this happened," Raffiani said.
Just after noon yesterday, 2 Canadian National Railway cars derailed in Richmond Hill, a town within the Greater Toronto Area (Hamilton Spectator, CBC News). One of the cars was carrying steel, the other was loaded with sulphuric acid, a dangerous good. A section of Elgin Mills Road was closed off to traffic for an undetermined length of time.
Read CN Railway Derailments, Other Accidents and Incidents for additional examples of CN derailments and other accidents in Canada and the United States.
Filed under: Derailment
UK: “We will never forget” – union anger at plans to allow ship named after SS officer to dock in UK
Canada: Evidence Pointing to Mexico Blacklisting Migrant Workers in Canada Stands, Says Court of Appeal
January 30, 2015: TDU's Pension Justice Campaign is on the move. Our voices are getting into the media and Teamster members and retirees are organizing to fight cuts and protect our pensions.
The Atlanta Journal Constitution featured leaders of the Local 728 Retirees Club who are fighting the pension cuts.
“We worked all our lives to earn a decent pension,” said Waymon Stroud, 61, who retired four years ago from Yellow Freight and is now president of the retirees club at Teamsters Local 728 in Atlanta. If his $2,800-a-month benefit got cut 30 percent, he added, “I’d have to go back to work.”
The article also exposed the big Brown corporate loophole that will save UPS $2 billion on the back of Teamster retirees.
A report in the Washington Post lists the Teamster and other union funds that are eligible to cut retiree benefits under the new law.
Teamster members and retirees are coming together to make our voices heard.
TDU pension activists spoke at a recent Memphis Local 667 retirees meeting attended by over 100 Teamsters. Others hosted a meeting in Milwaukee that formed the Wisconsin Committee to Protect Pensions. The Wisconsin committee is planning a larger meeting for February. In Ohio, Mike Walden—chair of the Northeast Ohio Committee to Protect Pensions will speak in March with other pension activists at retiree meetings in Columbus and Cincinnati. Plans are percolating for other meetings across the South and Midwest and beyond.
We are reaching out to allies, like the Pension Rights Center, AARP, sympathetic political leaders, and other unions. But to build a strong coalition to protect our pensions, we need to bring concerned Teamsters to the table.
That means reaching out to members and retirees in our areas. Contact TDU if you’re interested in helping organize a pension meeting in your area. We can help, including with guest speakers who can help explain pension issues and what’s next for the pension protection campaign.
Follow us at www.facebook.org/teamstersforademocraticunionIssues: Pension and Benefits
By Carla Vianna, Alligator Staff Writer
The controversial dismissal of several Citizens Co-op employees last year led to an almost yearlong labor dispute, but a much-anticipated settlement is now on the horizon.
An agreement to rehire four of the five workers who were fired last year has been reached between the co-op’s new board of directors and the Gainesville Industrial Workers of the World — the union representing the employees — said Thomas Hawkins, board chairman.
The tentative agreement would rehire four of the five workers, pay them a collective $10,000 and recognize Gainesville Industrial Workers of the World as their union.
Picket: Saturday, Jan. 31, 2015 at 11:45 AM
Jimmy John's, 401 W Pratt St, Baltimore, Maryland
RSVP on Facebook!
Nothing scares the bosses more than workers standing up for dignity and a better life on the job. From day one the bosses have conducted a campaign of retaliation against union members at the shop.
On Friday, January 23rd, Jimmy Johns fired one of the IWW organizers in the shop.
We need your help to show the bosses that such action against our members is unacceptable! Join the picket line with us and let your voice be heard! We won't let management silence our voices and attack our members.
Our picket will take place during Orioles FanFest, and you can help us hit the boss where it hurts the most: his wallet!
Introducing a new publication from the Industrial Workers of the World, the Incarcerated Worker! Over the last year or so, some prisoners in the U.S. and outside supporters have gotten together and formed the IWW Incarcerated Workers Organizing Committee to address concerns such as prison labor and conditions.
By Greg Rodriguez
Rio Grande Valley, South Texas IWW