Robert B Posted August 2, 2023 Posted August 2, 2023 Our firm serves as counsel to the local union and the associated pension fund. The union asked the pension fund staff for mailing labels (name and address). The union intends to give the information to a third-party so that participants will be mailed information (unrelated). Issues?
Peter Gulia Posted August 2, 2023 Posted August 2, 2023 That you describe your firm as counsel to a union and a pension trust regarding the union suggests that your firm advises the labor-side pension trustees. Do the employer-side pension trustees have their counsel? Peter Gulia PC Fiduciary Guidance Counsel Philadelphia, Pennsylvania 215-732-1552 Peter@FiduciaryGuidanceCounsel.com
Effen Posted August 2, 2023 Posted August 2, 2023 Are you asking if it is ok for the fund office to give the union office a mailing list of all of the pension participants so they can send them a non-pension related mailing? Those participants would be all union members, right? I guess there could be non-union people in the plan, but wouldn't the union have access to this information anyway? I don't know if this is common practice or not, but most funds I work with keep the union business separated from the fund business. The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice.
david rigby Posted August 2, 2023 Posted August 2, 2023 What does the CBA say? What does the plan say? Just an opinion, but there might be some embarrassment at the union office for realizing they don't ALREADY have the relevant names and addresses. 🤨 I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now