The General Membership Votes Unanimously to Ratify Pension Changes
After a spirited Q&A discussion, the General Membership on Monday, September 12, 2019 voted to ratify pension changes at the Washington Middle School Cafeteria. There were 98 members in attendance who viewed the educational videos on the pension plan – "How your Pension Plan Works," "Pension Plan Challenges," which explained the challenges we are currently facing, and "Pension Plan Changes," which described some of the items that the Board of Trustees had to make to lessen the cost to the plan. This included the new conditions for retiring prior to age 55 which were covered in a mailer sent out earlier to all members.
Business Manager Val Ceria introduced the power point presentation highlighting some of the challenges shown on the video and covered the permanent reallocation of current funds and permanent new monies that were the subject voted on for ratification by the membership. The Contractors also voted to approve the same and ratified the very next day.
You may have already received a mailer from the Trust Fund Office explaining more in detail. Go to www.pamcah-ualocal675-pension.com for details, including the information videos and a presentation you can watch from your smart phone.
|Plumbers & Fitters UA Local Union 675 - 1109 Bethel Street, Lower Level - Honolulu, Hawaii 96813-2218 - Tel: 808-536-5454 - FAX: 808-528-2629|