Local 295 members attended a Funds Seminar in March 2018. Topics of discussion were the Local 295 Pension and Health & Welfare Fund. The guest speakers were our Fund’s investment advisor Mark Lotriglio, our attorney Walter Kane, Linda Kellner, President of Savasta and Co. along with Al Cardillo, VP and Sr. Consultant.
The purpose of the meeting was to serve and inform members. Members were updated on the past and present status of our Pension Fund and our Health & Welfare Fund. Members were informed on how both these funds work and the benefits that are delivered to our members as well as how these benefits are paid for with the employers’ contributions and the returns from our funds’ investments, as well as on how we plan on providing and paying for those benefits in our future. All of the members’ questions were taken and answered.
The 295 Executive Board and I believe that we can serve you better when we inform you. We know that you cannot be misled when you are armed with the facts and truths of an issue. In the past this Local Union, the members and our Funds have come through many challenges (Huge and massive layoffs, stock market crashes, recessions, inflation in our economy). Despite the enormous challenges and skyrocketing cost of Health Care we continue to meet the need for contribution increases. This is achieved through tough bargaining at the negotiating table by this Local. It is our job and responsibility to maintain Fund costs to provide benefits. During the last 17 years our Pension Fund has paid more than half a BILLION dollars in pension benefit payments to 28,508 cumulative pensioners and beneficiaries. During this same seventeen year period our Welfare Fund has paid out more than four hundred million dollars in claim payments and insurance premiums to 31,594 cumulative active participants and their beneficiaries and 12,213 cumulative retirees. Our Pension Fund and our Health and Welfare Fund are worth protecting, worth preserving, worth fighting for and must NOT be squander away. As long as we do all of these things I can tell you and myself our Funds are worth working for!
In our continuing effort to provide comprehensive health care to our members, we as Fund Trustees along with the Employer Trustees are proud to announce an enhancement to the Local 295 Health and Welfare Fund called “One Call” which provides no out of pocket costs for Radiology Services through One Call. For more information on this benefit please see page 5.
There is also a new Health & Welfare benefit called “Heart Scan” which is an ultrasound examination that focuses on early detection of heart disease, Carotid Artery Disease (stroke), thyroid cancer (nodules), and Abdominal Aortic Aneurysm. For more information see page 6.
We also encourage our members to take advantage of our wellness program provided through HMC HealthWorks.
To meet our member’s needs and requests for access to additional supplemental insurances, we are able to make available STD (Short Term Disability), LTD (Long Term Disability), Life Insurance and Aflac products to our members. Please see page 7 for contact information for any products you are interested in.
Local 295 holds a firm belief in building a strong foundation through education. Our expectation is that when our children complete their higher education and enter the workforce as children of union members they will always honor this tradition and be proud of their Teamster heritage. I’d like to congratulate this year’s Scholarship Fund recipients and their parents. This year we awarded $60,000 to 18 recipients. I’d like to thank all of our fellow Teamster supporters, our vendors, our business associates and friends of labor who make these awards possible through their generous donations. As always, I’d like to thank Val for all the works she puts into making the Local 295 Scholarship Fund a success and the Shop Stewards for all their efforts and participation selling raffles. A fine job was done by all!
In closing I’d like to wish everyone a happy and safe summer!
Local 295 President