Feb 2010 Vol. 13 No. 2

Executive Officer's Forum

Decision time

Bob Alvarado, Executive Officer

en Espanol >


"I urge you to vote yes on the pension reallocation plan. But whatever you decide, don’t let others choose for you. You have the power—use it: VOTE!"

For the past several weeks, I’ve been traveling to Locals all over our Regional Council to discuss the status of our Pension Funds, and the decisions we have to make about the future. Since I first ran for this office, I’ve been guided by one key principle: Let the members decide. We’ve restored the vote on the contract, but beyond that, when we’re faced with major decisions, I firmly believe the choice is yours to make.

So here we are, and it is time to choose: Will we control our own destiny, or will we let the government tell us what changes we have to make to our pension? Like we have done with our Health and Welfare, and previously with our pension plan, I believe the right course is to be proactive. We need to face the problems, and find solutions. I believe the plan the Pension Trustees have proposed does just that.

As I’ve talked to members throughout Northern California, the reactions range from approval to concern to anger. I understand—and even share—all of those reactions. But we are faced with some facts we can’t change. First of all, we have suffered through the worst economy since the founding of our Pension Fund over 50 years ago. Secondly, this comes on top of the government changing the rules for pensions, which made our situation (and that of every other pension in the country) much worse.

We can’t do much about the economy, although we are fighting for jobs every day. We can try to get the rules changed, and that’s why we’ve asked you to contact your Representative in Congress (see box on page 3). But we can’t wait for Congress to act. Either we vote to put more money toward our pension, or the government will force us to drop early retirement options, including the 30-year service pension.

STRENGTH for the Long Haul

Voting “Yes” will reallocate a portion of our future raises to the pension, which is an investment in our future. The return on that investment will help us keep our promises to current and future retirees. If the pension bill passes, our Fund will be that much stronger, and we should be able to help current retirees as well.

As the economy improves, the Fund will recover, and should be strong for the long haul. There are signs that the economy is turning, and there are some big projects coming soon. We’re working every day to support projects like high-speed rail, the Transbay Terminal (which just received $400 million in federal stimulus money) and the Oakland Airport Connector, a $500 million BART project covered by a PLA.

For all these reasons, I urge you to vote yes on the pension reallocation plan. We have the power to be in control of our own destiny, and support our pension fund for the long term. Still, I come back to what I said in the beginning: this is your decision to make. If you receive a ballot, take the time to read the material carefully. Think about the choices we have, and talk to your fellow members about the issue. But whatever you decide, don’t let others choose for you. You have the power- use it: VOTE!

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