December 7, 2006
To: PN Employees
From: Brian Tierney
An Open Letter to Employees:
At the very beginning of negotiations with our unions, I said that I would treat our discussions with confidentiality and respect, and not negotiate in public. However, with all the rhetoric going around, I feel we must separate some facts from fiction. Let me highlight a few examples. We are not proposing to take away anyone’s pension benefit. The Pension Fund is federally guaranteed. We are only proposing to no longer make additional commitments to the Fund. Those employees with many years of service have already earned and vested their pension benefit. The benefit you have will still be paid to you upon your retirement. Employees with many years ahead of them before retirement will have plenty of time to plan for their own retirement with a variety of tax-advantaged plans, for example a 401(k). Everyone’s existing pension is fully protected by law. It is illegal, immoral, and repugnant to take any actions that would threaten the security and integrity of the Pension Fund.
Did you see that? The Guild just got SERVED! It’s a hot time in the old town tonight, boy! The rest of this utterly fascinating document after the jump.
PHILEBRITY: Retirement Fund? Ha! Get A Blog, Ya Bums!
UPDATE: “Federal Mediator Walter Bednarczyk said today that he would call back the Guild and the Company to face-to-face bargaining Monday to discuss pension issues. He strongly suggested that neither party take any action at this time. The Company wants to freeze the pension fund and take full control of our fund away from the joint board of trustees. The union plans to work with its experts through the weekend to come up with a counter proposal. (Translation: No work stoppage)” — GUILD MEMO