FPLers - 420 Transfer coming

[Always listening]

I'm still very green at all this, but if I understand correctly this 420 transfer (of $25 million) coming up is the perfect time to grab the company by the short hairs, and try to get them to raise our retiree medical benefits up to par with the employees hired before April 1, 1997. If ever a time to come together, to stand side by side as Brothers, and have a say about our futures. You have to show up to the meetings to have a voice though, why pay money and say you're part of the union, if you don't use it... I would like to know more about this 420 transfer, actually I think we all need a little more knowledge on the subject.. I found a little bit here http://powerlineman.com/lforum/showthread.php?t=130 :eek:

If you're gonna be a member, act like one.

[just say no]

you are dreaming brother...

[lineman641]

I'm still very green at all this, but if I understand correctly this 420 transfer (of $25 million) coming up is the perfect time to grab the company by the short hairs, and try to get them to raise our retiree medical benefits up to par with the employees hired before April 1, 1997. If ever a time to come together, to stand side by side as Brothers, and have a say about our futures. You have to show up to the meetings to have a voice though, why pay money and say you're part of the union, if you don't use it... I would like to know more about this 420 transfer, actually I think we all need a little more knowledge on the subject.. I found a little bit here http://powerlineman.com/lforum/showthread.php?t=130 :eek:

If you're gonna be a member, act like one.
i agree,these moneys are for all fpl retiree's and they need are approval.go to a local meeting and direct your pres and delegates to deny any transfer unless we get something in return! it is are right to do so!

[payattention]

**GETTING SCREWED?????** its up to the vote!

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Due to the amount of money involved in a 420 transfer members should PAY ATTENTION- ASK QUESTIONS-AND GET ANSWERS!

Up to 25 million annually over 5 years, total 125 million, with out reading the fine print who knows exactly the details or cost associated with this transfer.

This fund was set up with the government, for retiree benefits. there are restrictions on withdrawal amounts without authorization through collective bargaining. The company cannot legally transfer funds without our vote of approval. We currently have a two tiered retirement benefit plan involving post 1997 employees. I believe this is a most opportune time to regain the benefits for these members. The amount of money involved in this type of transaction will allow us to negotiate from a much stronger vantage point on all our issues.

When is the last time you read your "FPL Handbook for Bargaining Unit Employees." Revised 1998. Check details, understand your rights under Employee Retirement Security Acts (ERISA). Request this book and file a grievance if you do not receive. GO TO THE UNION MEETINGS AND GET INVOLVED!! This time, if we do not pay attention and vote as a brotherhood we will pay 125 million for getting screwed, we are often screwed, but this is the first time that we paid 125 million for it............
:(

[payattention]

It is next to impossible to get information on the 420 transfer from our representatives. The union officials that knew the details of the transfer have either retired or moved up the company or union ladder. There are representatives that are still in position and will not inform the membership, or more than likely don’t know the workings of this transfer.
The lack of attention by our business manager and poor legal guidance allowed the last transfer to take place*. Despite receiving more than 60 days advanced notice of the transfer of $21,200.00 to a 401(h) account, our legal representatives failed to inform Bryan Thompson to object to the transfer of funds to the PLAN ADMINISTRATOR.
Instead Thompson objected to Buck Martinez who was not involved with this transfer, making the objection dubious. At the system council meeting no detailed information was given of the 420 transfer. Our negotiating committees, along with the delegates, were informed that the company could transfer this money at any time. It is time to get our head out of our ass and get NEW LEGAL COUNCIL and UNION REPRESENTATON who will represent the members of the local unions involved with System Council U4.

*This is not to suggest that the transfer was illegal in anyway, but it was a bargaining chip that was never laid on the table to improve benefits, wages, or quality of life issues.