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<blockquote data-quote="Sporh schmore" data-source="post: 808736" data-attributes="member: 33616"><p>I&#039;m not defending the old board or the new board here but simply pointing out some things that seem to be lacking in the conversation. Did the old board let the funds run down to dangerous levels?&nbsp; Yes, but so did countless other unions and companies as well. Nobody thought the economy would stay as bad as it was for as long as it was, many funds kept money in investments too long following the standard investment rule of invest for the long haul. Our local has about 5,000 full timers that the fund gets contributions for so that means our income on a monthly basis is relativley stable. However, each month the cost of doctor visits, lab work, tests, etc. continued to rise. With no additional money coming in from company contributions you will eventually run into a deficite, the old board held off too long and didn&#039;t raise co-pays to help offset. Financially I can understand what the new board has done....the gap needs to be filled somehow and since we are bound by a collective bargaining agreement we can&#039;t get more money from the company. Think of it this way...your cable bill doubles but your paycheck stays the same what are you going to do?&nbsp; Cut back someplace, right?</p></blockquote><p></p>

[QUOTE="Sporh schmore, post: 808736, member: 33616"] I'm not defending the old board or the new board here but simply pointing out some things that seem to be lacking in the conversation. Did the old board let the funds run down to dangerous levels? Yes, but so did countless other unions and companies as well. Nobody thought the economy would stay as bad as it was for as long as it was, many funds kept money in investments too long following the standard investment rule of invest for the long haul. Our local has about 5,000 full timers that the fund gets contributions for so that means our income on a monthly basis is relativley stable. However, each month the cost of doctor visits, lab work, tests, etc. continued to rise. With no additional money coming in from company contributions you will eventually run into a deficite, the old board held off too long and didn't raise co-pays to help offset. Financially I can understand what the new board has done....the gap needs to be filled somehow and since we are bound by a collective bargaining agreement we can't get more money from the company. Think of it this way...your cable bill doubles but your paycheck stays the same what are you going to do? Cut back someplace, right? [/QUOTE]

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