Brothers,

Attached is a message from the BLET Mobilization Team regarding the IBT multiemployer retirement plans. Multiemployer Plans are similar to our Railroad Retirement in that participants and their employers contribute to the multiemployer Plan and a benefit when the employee retires is paid to the employee at that time based generally on years of service. At present, some of these plans are financially insolvent, primarily due to past financial crisis, the decreasing numbers of participants as union membership declines (most non union employees and employers don’t contribute to a pension plan at all), and the ability of employers to “leave the plan” without a fair liability payment causing threat to the retirement security of many of our Teamster Brothers and Sisters. It is asked that all members take a few moments and contact their duly elected Representatives in order to request their support of legislation that would provide these fellow Members retirement. Although this does not directly affect our Railroad Retirement, as Union members we all understand how precious a hard earned retirement is, and should lend a hand in helping our Brothers and Sister secure theirs. They may have to return the favor someday should we in the Rail Industry have to fight to keep Railroad Retirement. Please take the time to read the attached message from BLET ND President Pierce, and pass the message along. Thank you all for your dedication to keeping the Membership informed.

Admin

IBT_Pension_Mobilization.pdf