Agenda Item # 20
SUBJECT: Negotiated Pension Plan
STATEMENT OF QUESTION:
Has the CWA/ITU NPP been given consideration to be implemented for AFA-CWA members? If it has been considered, what was the deciding factor to not participate and how do we overcome those obstacles to help protect our members in their retirement years?
Should a committee be created to examine the potential for the AFA to participate in the CWA/ITU NPP and, should a new Section XV be added to the C&B titled CWA/ITU Negotiated Pension Plan”?
SOURCE AND DATE SUBMITTED: CAL 62, 63, 64 – February 27, 2015
BACKGROUND INFORMATION:
The CWA/ITU NPP was started in 1967 by the International Typographical Union (ITU). It was established to provide a national plan with full portability as an aid to financial retirement planning and security for members. The Plan is funded by employer contributions in accordance with collective bargaining agreements; employee contributions generally cannot be accepted.
The Internal Revenue Service has determined that the Plan is a “qualified plan” for the purposes of the Internal Revenue Code. The latest such favorable ruling by the IRS was issued on November 19, 2002.
PROPOSED RESOLUTION:
WHEREAS, the non-availability of a Negotiated Pension Plan for the AFA is unacceptable; and
WHEREAS, a CWA Negotiated Pension Plan already exists; and,
WHEREAS, Article I.C.13. in the current C&B states “To consider and, if desirable, make provision for suitable pension, annuity, retirement, and disability benefits for all members through legislation, collective bargaining and other means,”
THEREFORE BE IT RESOLVED, that a Committee be created to examine the benefits within the CWA/ITU NPP, and determine what the requirements would be for the AFA-CWA to participate; and,
BE IT FURTHER RESOLVED, upon favorable completion, the committee will create an Advanced Agenda Item for the 2016 BOD titled “Section XV CWA/ITU Negotiated Pension Plan” with the benefits and requirements therein.
