Multi Employer Plan

[Guest PJMARQ]

Our members are approaching the 180 day mark to have a alternate schedule in place, however the parties cannot come to a agreement, therfore we are scheduled for arbitration Feb 23-24. We have a tenative plan over 13 years to address the underfunding issues with the plan. One major group with more members in this union multi employer group has accepted a $30 dollar accural rate per year regards to Pension benefits, we are being told that even if we win the arbitration we will have to accept the base level1% or $20 accural rate. Our position is we have the right to continue to bargain and address our differences regards to this, we currently have three proposals which have been denied by the employers. Our position is that if we win the arbitration that the arbitrator can award the same as the other group or accept one of the higher alternate schedules we have offered. The real issue is if we reach the 180 day bench mark we are being told that the a default schedule would be implemented and would be worse than any schedules currently presented. What are our best options if any?? Does the IRS or government then make the decision to implement default schedules, and if so is it based on the default schedules presented by the corporations and how much time would be allowed or will we be given more options to try and resolve the issue. Any help would be appreciated.

PJMARQ