AC, that’s some pride right there. I would certainly have a lot less bad things to say about Unions if they behaved in a similar manner.
[quote]angry chicken wrote:
Pensions fail when you tie them to ONE company. I’m an IBEW Local 26 member and our pension fund is rock solid. We have over 250 signatory contractors and our pension contribution is paid for in our hourly agreed rate (which is above and beyond what I see in the envelope). The solvency of the pension is managed by the UNION, not the company. We (every member) get quarterly reports and annual summaries of all of the funds and how they are invested. Complete transparency. It can be a good thing if structured properly. I am not tied to any single company’s fortunes.
Also, the pension is a relatively low number because in addition to our pension, we have an annuity that is similar to a 401K that we have control over. For every hour I work, $4.10 gets invested in my annuity automatically. Again, this is above and beyond the pension allocation or my health insurance.
Why do companies pay all that? Because we put out an outstanding product: we are the BEST fucking electricians in the area. Non union contractor can’t touch us. I’ve been making chicken salad out of non union chicken shit for the better part of two decades. Our apprenticeship program is worth 90 college engineering credits. And if you fuck up, we kick you out. We have high standards. So contractors are HAPPY to pay for that quality, because we do it right and do it right the FIRST TIME.
Also, local 26 has a “no strike” clause in our contract. We are a very reasonable union and we resolve everything through mediation, not strong arm tactics. If more unions were like ours, they wouldn’t have such a bad name.[/quote]
Damn fucking straight.
You cannot properly fund pensions because using realistic revenue projections would prevent Unions from getting these sweet salaries and benefits.
And what AC mentioned above shows that how a well run Union can be efficient a
[quote]angry chicken wrote:
Pensions fail when you tie them to ONE company. I’m an IBEW Local 26 member and our pension fund is rock solid. We have over 250 signatory contractors and our pension contribution is paid for in our hourly agreed rate (which is above and beyond what I see in the envelope). The solvency of the pension is managed by the UNION, not the company. We (every member) get quarterly reports and annual summaries of all of the funds and how they are invested. Complete transparency. It can be a good thing if structured properly. I am not tied to any single company’s fortunes.
Also, the pension is a relatively low number because in addition to our pension, we have an annuity that is similar to a 401K that we have control over. For every hour I work, $4.10 gets invested in my annuity automatically. Again, this is above and beyond the pension allocation or my health insurance.
Why do companies pay all that? Because we put out an outstanding product: we are the BEST fucking electricians in the area. Non union contractor can’t touch us. I’ve been making chicken salad out of non union chicken shit for the better part of two decades. Our apprenticeship program is worth 90 college engineering credits. And if you fuck up, we kick you out. We have high standards. So contractors are HAPPY to pay for that quality, because we do it right and do it right the FIRST TIME.
Also, local 26 has a “no strike” clause in our contract. We are a very reasonable union and we resolve everything through mediation, not strong arm tactics. If more unions were like ours, they wouldn’t have such a bad name.[/quote]
The more technical the trade the better the benefits structure. They (the union and employers) know that they aren’t dealing with a bunch of dummies.
Having been on a coupe of job sites, I’ve always been impressed with the professionalism of the electricians. Most are more like technical engineers than your typical romex runner.