Source: http://d-hex.blogspot.com/
Voting for Proposed By-Laws Changes is Underway
Ballots were mailed by the American Arbitration Association on January 2, and are due back January 29.
Check Your Mail – and Vote!
Since taking office the Executive Board has worked hard to find ways to cut costs at the Local. President Keith Purce worked with the by-lawscommittee, members Anthony Hall, Nancy Branham, and Warren Donofrio, to figure out how best to reduce costs.
The Executive Board is recommending three changes to the Local’s by-laws. One is a restructuring of the Retirement Trust Fund to give every current 1101 member a disbursement of $1101. Two are to save money on lost time wages and officers’ salaries.
You should be receiving a ballot in the next few days for the proposed by-laws changes. If you don’t receive a ballot by January 9th, see the information at the bottom of this email to request a duplicate.
The Local has contracted with the American Arbitration Association (AAA) to conduct the vote. The proposed by-laws changes are detailed below.
1. Revise the Local Retirement Trust Fund to allow for the disbursement of $1101 to each Local 1101 member (Article XXI)
The Local Retirement Trust Fund currently has a balance of more than $9 million dollars, which is more than is necessary to fund the current disbursement of $2000 at each member’s retirement. The Executive Board pledged to disburse some of this money to the Local’s membership now, while making sure to keep the Fund solvent.
The money in the Retirement Trust Fund can only be used to make direct payments to members, and there are strict rules about how the money can be disbursed. Local 1101 Secretary-Treasurer, Kevin Condy, has been working with the lawyers and accountants to determine how best to restructure the Local Retirement Trust Fund in compliance with all laws and tax regulations.
The by-laws change proposes that every member who has been in continual good standing for five years preceding 10/25/2013 shall receive a benefit of $1101 now and $1101 when they retire. Members can choose to defer the first payment of $1101 and receive a total of $2202 when they retire, as long as they have been a member of Local 1101 in continuous good standing for the five years prior to their retirement.
In addition, if deferring the initial benefit of $1101 please be aware of the following. According to federal law and IRS regulations, if a member defers the first payment of $1101 until retirement, that $1101 will still be taxed in the year it could have been received (in this case 2014). This is called “constructive receipt” (26 C.F.R. Sec 1.451-2), which means the benefit is taxable as income in the year when the option can be exercised, regardless of whether or not the benefit is actually received in that year.
If a member has not paid $1101 in dues at the time of the disbursement, he/she will receive an amount commensurate with what he/she has paid in dues so far.
2. Compensation for Union Business (Article XXII)
All members and officers of Local 1101 who have to be pulled off for union business will be reimbursed for any lost time, paid at the same rate of pay they receive from their respective titles for a combined total of 40 hours a week. The hours that the Local pays for union business are considered “lost time wages”, since they are wages not paid by the employer.
Under the Local’s current by-laws, compensation for lost time wages is paid at top craft pay. Not every member or officer works for Verizon, however, and not every Verizon employee is at top craft pay. Paying members and officers at the actual rate of pay they would be paid by their respective employer will save the Local tens of thousands of dollars a year.
3. A 5% pay cut for the Executive Board (Article XXII C)
Executive Board members currently receive officers’ pay as detailed in Article XXII (C) of the current by-laws. This by-laws change would cut the Executive Board members’ pay by 5%.
Make sure You Vote!
We encourage every member to read the materials carefully and to vote. If you have any questions please call the Local at 212-633-2666.
If You Haven’t Received a Ballot by January 9th
If you haven’t received a ballot by January 9th, call AAA at 1-800-529-5218 Monday through Friday, 9:00am to 5:00pm. Members can also request a duplicate by emailing Sacha Ulerio at ulerios@adr.org. Please do not call prior to January 9, 2014 to allow sufficient time for delivery of all ballots.
Ballots are due back at AAA offices by Wednesday, January 29, 2014 at 5pm. The count will be held at the AAA offices on Thursday, January 30th.
The ballot includes the proposed language as well as the old language, and shows all of the proposed changes. Current By-Laws here.
CWA Local 1101
275 Seventh Avenue, 17th Floor
New York, NY 10001
212-633-2666
Source: local1101.org