Jun 16

Pension Fund Update

Dear Brothers and Sisters,

On Wednesday, June 14, Tom Roth, president of the Labor Bureau Inc., and our chief negotiator for 42 years provided a presentation to members of the Legislature at the State House about the real status of the MBTA Pension Fund; disproving recent information released by the MBTA about the status of the fund. MBTA management has repeatedly sought to present the fund as “in crisis,” but a real, transparent analysis of the fund shows this is not the case. You can also read about our presentation in the Boston Globe.

We want to make sure you have all of this information as well, and that everyone has a clear, accurate understanding of the status of the pension fund. At our upcoming Union meetings on June 20, we will have a number of people in attendance to talk to you about the MBTA Retirement Fund (MBTARF). Representatives from Segal Marco Advisors; John Barry, the Acting Director of the MBTARF; and Tom Roth will all be there to present their information and findings as well as answer questions. Additionally, Paul Hynes will be there to provide a legal update, and Billy Cass and Mike Morris will be providing a legislative update.

As a reminder, our next membership meetings are:

  • 10 a.m., Tuesday, June 20 at the Boston Teachers Union Hall, 180 Mt. Vernon Street, Dorchester
  • 8 p.m., Tuesday, June 20 at the Boston Teachers Union Hall, 180 Mt. Vernon Street, Dorchester

We encourage you all to attend, a lot of good information will be given and it’s a great opportunity to get answers to your questions.

In Solidarity,

The Executive Board
Boston Carmen’s Union, Local 589

Permanent link to this article: http://carmensunion589.org/2017/06/pension-fund-update/

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