Local 804 officials are responding to our report on the Health Fund by telling members that the Fund did not “lose” $18 million; it just “spent” $18 million more than it took in!

Accountants call that losing money-and so do the fund’s own financial reports. Local 804 members deserve more than word games-especially when our health benefits and retiree healthcare are at stake.

No one has suggested that the Fund’s money mysteriously disappeared! On the contrary, we have carefully explained in leaflets, bulletins and meetings how the Fund’s assets dropped by $18 million.

In particular, we pointed out how Local 804 officials voted to reduce contributions to the Health Fund and divert the money to the Pension Fund even though the Health Fund was losing millions–a move that accelerated the Health Fund’s multi-million dollar losses.

Click here to download to a leaflet that looks at “What happened to the money?” in our Health Fund.

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