Chicago Local 705 and UPS retirees have filed a class action lawsuit in federal court to try to stop UPS from raising the cost of retiree health care. UPS management recently raised retirees’ monthly payment for their health and welfare from $50 to $157.58 for a single retiree and $315.17 for a retiree and spouse.
The […]
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The assets of our Local 804 Pension Fund continued to fall in the Third Quarter. The Fund lost more than $105 million in assets in the first three quarters of 2008, including more than $46 million in the Third Quarter alone.
Our Pension Fund recently sent every member an Annual Funding Notice, but that notice […]
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Let’s Get It In Writing From the Fund
President Howie Redmond and the Local 804 Executive Board sent a letter to all Local 804 members promising that no matter what happens on Wall Street our pensions are secure.
They say that under a Letter of Understanding negotiated with UPS, the company is responsible for making extra contributions […]
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Could Lose $150 Million+ in 2008
The Local 804 Pension Fund lost $58.8 million in assets in the first six months of 2008 according to fund documents obtained by 804 Members United. Our Pension Fund had $736.9 million in assets at the beginning of the year. Now we’re down to $678.1 million.
The worst news […]
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Documents obtained by Local 804 Members United reveal that Local 804 officials were talking with the company about pension cuts as early as January 2005—nearly two years before the membership was blindsided by pension cuts.
According to the documents, our Pension Fund Trustees had actuaries running projections that included cutting benefits to as low as $2,500 […]
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After violating federal law for more than four months, the Local 804 Pension Fund finally responded to members’ legal requests for documents from our pension fund. But our fund continues to violate the Pension Protection Act by refusing to turn over the most important documents that members requested.
What are our trustees hiding and when will […]
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Members’ Attorney Warns Fund
A pension attorney representing Local 804 members has warned our Pension Fund trustees that they are in serious violation of the Disclosure Rules of the Pension Protection Act, a federal law that requires the Fund to turn over financial, actuarial and other fund documents to participants who request them.
This message was delivered […]
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Local 804 makes It Official:
Our Pension is in ‘Endangered’ Status’
This new pension update from 804 Members United explains what the new funding notice reveals about our pension fund—and what members are still NOT being told.
Help build a stronger Local 804 by keeping members informed. Download the Pension Update and pass it out to other 804 […]
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Our pension fund has mailed a funding certification notice to members as required by the Pension Protection Act.
The notice is long on legal jargon and short on details. In fact, it provides the minimum information required under the law. In the meantime, the fund continues to stonewall on turning over documents that would allow […]
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Local 804 members will soon be mailed an official notice that tells us where our pension fund stands under the Pension Protection Act.
Download a Pension Update from 804 Members United that explains what we’re likely to learn in this notice and what it won’t tell us about the future of our benefits.
Help build a stronger […]
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Funding Notice to Be Mailed Soon
Last month, the Local 804 fund was required by law to have an actuary certify the plan’s status to tell the government if our fund is in the Green Zone, the Yellow Zone (Endangered) or the Red Zone (Critical Status).
Local 804 leaders have known what zone our plan is in […]
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A Message from 804 Members United
On behalf of 804 Members United, I want to thank Local 804 members for standing up for positive changes in our bylaws.
Our union is stronger when members are informed and involved. That’s the direction we’re taking with the 804 Members United website: informing and involving members for a strong […]
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[April 20] Members voted by more than 90 percent at today’s general membership meeting to pass two bylaws reforms proposed by 804 Members United.
Members voted by a 208 to 12 margin to require the Executive Board to give a report on our pension and health and welfare funds at every general membership meeting.
Members also voted […]
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What Are They Hiding?
The Pension Protection Act (PPA) requires that pension plans make more information available to participants so we can watchdog our funds. But unlike other Teamster pension plans, our fund has refused to turn over all the information that we are entitled to under the law.
Local 804 members can help secure our right […]
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Vote Yes to Give Members the Right to More Contract and Pension Information
Local 804 members will vote at the April general membership meeting on bylaws changes that will put more pension and contract information in the hands of the membership.
Two thousand Local 804 members signed petitions in an overwhelming demonstration of support for these positive […]
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An actuarial report prepared for the trustees of our Local 804 pension plan reveals several alarming facts about our pension fund that Local 804 members were kept in the dark about.
The report from AON consulting revealed that:
The Local 804 pension fund had a $378 million shortfall as of November 2006 and approximately $100 million of […]
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Understanding Your Local 804 Pension
Do you want to know more about how your Local 804 pension works and what the future holds for our benefits? Then don’t miss the upcoming pension workshop: Understanding Your Local 804 Pension on Sunday, April 6.
Our pension fund will soon be officially designated in “Endangered Status” (the “Yellow Zone”).
Pension attorney […]
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