Strike fund allotment
- Thread starter Wally
- Start date
frivolous petty small.
Well-Known Member
Some locals don't have a strike fund.
rving in texas
Member
enough for dinner at mickey ds for family of 4 for one day
Limper
Out For Delivery
Not enough.
grinandbearit
Active Member
Not much, most of your dues were / are given to the Democratic party and to pay for perks for your union 1%ers
Here in 705 we pay and extra $4(p.t.) and $8(friend.t.) per month for the strike fund on top of our 2.5 x hourly rate.
PiedmontSteward
RTW-4-Less
Dues money cannot - by law - be given as political contributions. Political contributions are made via the DRIVE fund, which is an additional voluntary donation that can be auto-drafted along with dues.
The only problem I have with the Teamster top brass pay/benefits are the multiple job-holders.
Of course FOX NEWS doesn't dwell on these pesky facts so I fully understand your confusion but actually no dues money went to the "Democratic Party" as that is illegal. Most of your dues supports your local union's administration costs.
The "nickel an hour for Teamster power" campaign developed for the Special Convention which increased dues to 2.5X promised a weekly strike fund benefit at ten times the hourly wage. Not sure if this is still accurate but I have that brochure.
Wally
BrownCafe Innovator & King of Puns
I always thought the union should offer a strike fund savings plan. Five bucks a week into an account with your name on it. This would be a private account like a simple savings plan. Sell it as "strike fund" so it is not touched.
Five bucks a week since 1997 would now be worth $5300 at 4%.
Five bucks a week since 1997 would now be worth $5300 at 4%.
UpstateNYUPSer(Ret)
Well-Known Member
Whatever happened to personal responsibility? Why couldn't you do the same with a Christmas Club account? Why put the responsibility on the Union? Why should I set aside money for someone not willing to help themselves?
Nimnim
The Nim
While dues are not allowed to contribute directly to a political party and most dues go to administrative costs, they are still able to push some of the funds towards promotional articles about certain politicians in the Teamster newsletter/magazine. I've resigned myself to the Teamsters blindly supporting Democrats, but I don't think there should be any political stuff, party doesn't matter it should just be unbiased information to update the membership, at all in the newsletters/magazines.
brownmonster
Man of Great Wisdom
Where are you going to get a 4% return?
bottomups
Bad Moon Risen'
75 year CD, with a minimum deposit of $100,000?
PiedmontSteward
RTW-4-Less
I agree. I don't want to stray too off-topic, but the relationship between organized labor and the Democratic party is primarily an abusive one. Additionally, dues money can be used to pull members off the job (to cover lost wages/benefits) to do member-to-member political contact/outreach; this usually only happens during presidential election years.
brown_trousers
Well-Known Member
The only strike fund you can rely on.... is the one you create yourself.
Dont bank on the hope of someone else (teamsters) saving this money for you. Open a savings acct, and start an emergency savings for situations like this.
Dont bank on the hope of someone else (teamsters) saving this money for you. Open a savings acct, and start an emergency savings for situations like this.
Brownslave688
You want a toe? I can get you a toe.
Exactly. Why would I want a pension increase when I can take an equal pay raise and do with it as I please.
Brownslave688
You want a toe? I can get you a toe.
Look it up guys there are some online banks and savings accounts giving that kind of return.
UpstateNYUPSer(Ret)
Well-Known Member
I was going to ask our resident investment gurus, Benben and Brownboy, for advice.
if I remember correctly, our dues was increased in 2001 when Hoffa held a special convention in Las Vegas not long after the regular convention. During that special meeting our dues was raised to 2.5 x our rate. That increase had a specific purpose, it was to generate a $50 million strike fund. Not sure what happened to the rest of the money when that goal was met.
