Local Strike Fund?

[Wally]

Great idea but would never fly. They need to get their hands on the money so they can collect interest

Then they are not truly thinking of their membership. What if decades go by with out tapping that money? Huge amounts could accumulate.

 

[Wally]

Nope.

Rip off. My plan is better. The union gets negotiating clout, membership keeps their money! A win-win.

 

[IVE GOTTA PACKAGE 4U]

Rip off. My plan is better. The union gets negotiating clout, membership keeps their money! A win-win.

It won't happen

 

[542thruNthru]

Seems highly suspect, what with you local involved in a heated election? Why now?

It was brought up by the members and 3 of the people running against the local were on the committee and approved it.

 

[542thruNthru]

Great idea but would never fly. They need to get their hands on the money so they can collect interest

Interest stays in the accounts. It's in the paper work.

 

[Wally]

Interest stays in the accounts. It's in the paper work.

Put the money in your own account.

 

[IVE GOTTA PACKAGE 4U]

Put the money in your own account.

The same guys that can't even afford to out 1% in to the 401k?

 

[Wally]

It won't happen

True. Makes too much sense. Gives them little power.

 

[IVE GOTTA PACKAGE 4U]

True. Makes too much sense. Gives them little power.

Neither will a strike

 

[Wally]

Neither will a strike

I wonder how much these locals have in these funds? You accumulate too much and the incentive is there not to strike.

 

[IVE GOTTA PACKAGE 4U]

I wonder how much these locals have in these funds? You accumulate too much and the incentive is there not to strike.

Absolutely. Plus they don't want to lose the union dues either.

 

[Wally]

I'm surprised there has not been a class action suit on behalf of retirees in an attempt to get back contributions.

 

[104Feeder]

We have over $750,000 in our strike fund account at Local 104. There is a monthly deduction of $3, $36/yr up from $26/year previously.

During the 1997 UPS strike it paid $55/week and was paid out seamlessly unlike the IBT funds. Our fund definitely gives us more clout at the negotiating table and we're proud to see it grow.

 

[Wally]

We have over $750,000 in our strike fund account at Local 104. There is a monthly deduction of $3, $36/yr up from $26/year previously.

During the 1997 UPS strike it paid $55/week and was paid out seamlessly unlike the IBT funds. Our fund definitely gives us more clout at the negotiating table and we're proud to see it grow.

Are taxes paid on that account?

 

[542thruNthru]

We have over $750,000 in our strike fund account at Local 104. There is a monthly deduction of $3, $36/yr up from $26/year previously.

During the 1997 UPS strike it paid $55/week and was paid out seamlessly unlike the IBT funds. Our fund definitely gives us more clout at the negotiating table and we're proud to see it grow.

Thank you.

Ours will start 10 days after a strike. This may be changed with a vote after its had more time to grow. Our strike fund will be on top of the IBT strike fund.

So after 2 weeks if I were to go on strike I would be paid $960 a week. That's going off my union dues right now. This of course depends on if the fund has had ample time to grow.

 

[Wally]

Thank you.

Ours will start 10 days after a strike. This may be changed with a vote after its had more time to grow. Our strike fund will be on top of the IBT strike fund.

So after 2 weeks if I were to go on strike I would be paid $960 a week. That's going off my union dues right now. This of course depends on if the fund has had ample time to grow.

Like 50 years. Lol

 

[542thruNthru]

Like 50 years. Lol

Seeded with 15k
7k members putting in $104 a year.
Not allowed to touch for 4 years.
That's 2,927,000 on it's own not counting intrest.

 

[Wally]

Seeded with 15k
7k members putting in $104 a year.
Not allowed to touch for 4 years.
That's 2,927,000 on it's own not counting intrest.

What happens to that money if UPS ever goes out of business?

 

[542thruNthru]

What happens to that money if UPS ever goes out of business?

SMH..... it's like I'm talking to Rod again.

This is not just about UPS. Its ALL of local 542.

You're thinking to much about just yourself.

 

[Wally]

SMH..... it's like I'm talking to Rod again.

This is not just about UPS. Its ALL of local 542.

You're thinking to much about just yourself.

Why not think about yourself? People that do that don't rely on others. It's my money.

I'm against a strike fund. Just save $20 a week. In 7 years you will have over $7500!