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Friday, August 26, 2016

Pension article

Posted by Lou on August 16, 2016

Brothers and Sisters,

In case you you missed it, there was another not-so-rosy depiction of our pension fund in the Providence Journal recently. See the article here. The article indicated a negative cash flow, due to disbursements outpacing contributions and investment returns.

In some good news, congratulations to the Local 2881 scholarship award winners: AnneMarie Martella, Jordan Ferris, Clara Crawford, and Megan Wood. We hope that the award goes to good use in your future education.

Thanks
Local 2881 Executive Board

August updates

Posted by Lou on August 9, 2016

Brothers and sisters,

– Thank you to all who came to the summer outing recently. We appreciate your participation and hope you enjoyed the time spent with your union brothers and sisters.

– You may have seen our pension fund in the news lately: RIFuture.org, and ProvidenceJournal.com.

– If you are interested in joining the Local 2881 executive board, please contact Carmino Paliotta or Joe Antonio. There is currently a vacancy in a trustee position.

Enjoy the rest of your summer!
The Local 2881 Executive Board

July updates

Posted by Lou on July 18, 2016

Brothers and Sisters,

Just a few quick updates and items of interest:

Don’t forget about our Summer Outing – 2016 Summer Outing Flyer. There will be food and fun for all! Some folks have been saying, “But why is it at just a Knights of Columbus hall?” Just a Knights of Columbus hall?!? This isn’t just any Knights of Columbus. It’s got bocce courts, room for volleyball, and it is right next to Governor Notte Park! Notte Park has a beach, playground, tennis courts, fishing access, and a canoe/kayak put-in area!

BUT WAIT! THERE’S MORE! You also get two (yes 2!) hours of administrative leave to attend the outing. We get so little these days, that we would hate to lose our free time off due to low ticket sales.

Also don’t forget about the Local 2881 Scholarship 2016 application packet. Applications are due July 31. More information and instructions are in the application packet.

Pension links, anyone?

As always, feel free to contact any of us with questions and concerns. See you at the outing!

Thanks,
Local 2881 Executive Board

Good news!

Posted by Lou on June 24, 2016

Brothers and sisters,

Nothing but good news in this post! Congratulations are in order for two members of the Local 2881 family! Jordan Ferris (son of Ed Ferris) and Annemarie Martella (daughter of Joe Martella) are 2016 recipients of the Giovanni Folcarelli Scholarship, awarded annually by Council 94. When you see your union brothers Ed and Joe, congratulate them and their children on their achievement!

Also, the details of the summer union outing have been finalized. Full information can be found on the flyer which was e-mailed out today. It can also be seen here: 2016 Summer Outing Flyer. We will be enjoying our outing at the Knights of Columbus at 1675 Douglas Avenue in North Providence. Food will be provided, and there will be access to the beach and playground at Governor Notte Park. Tickets are available from Carmino Paliotta, Joe Antonio, Gina Friedman, Lou Maccarone, and Greg Baribault. The ticket price is $10 for members and $10 for guests and children over 16, with proceeds going toward the Local 2881 Political Action Committee funds. Children 16 and under remain free. Hope to see you there!

Thanks,
Local 2881 Executive Board

June Updates

Posted by Lou on June 3, 2016

Brothers and sisters, here are some updates and items of note:

Stay tuned for all the details of the Summer Outing!

General membership meeting update

Posted by Lou on May 17, 2016

Brothers and sisters,

Just a reminder about the general membership meeting next Tuesday May 24, 2016 – 4:20pm at
235 Promenade Street, Providence in the 3rd Floor Cafeteria.

The agenda includes the following:

  • a discussion of the summer outing
  • a report of findings from our trustee and professional financial audit
  • Update on wage reopener
  • health care holiday
  • new job posting protocol
  • International Convention/delegates
  • United healthcare training courses
  • Local 2881 scholarship update
  • any new items that you might have for us

In the meantime, another article questioning the usefulness and appropriateness of hedge funds surfaced, this time on Vice.com.

Thanks!

General Membership Meeting

Posted by Lou on May 13, 2016

Brothers and sisters,

Our next general membership meeting will be held on Tuesday, May 24 at 4:20pm in the 3rd floor cafeteria of the 235 Promenade Street offices. The agenda will include a discussion of the summer outing, a report of findings from our trustee and professional financial audits, and any new items that you might have for us.

In the meantime, enjoy this article which describes a $38 million projected increase in revenues by state financial analysts for the current fiscal year and another $9 million for next fiscal year. What it doesn’t describe is using that increased revenue to boost the funding percentage of our pension fund. Guess it’s only OK to worry about the pension funding when it can be used to reduce our benefits.

See you then!

ERSRI System update

Posted by Lou on May 6, 2016

Brothers and sisters,

We received the following message from the Employee’s Retirement System of Rhode Island (ERSRI), saying that the online system is being upgraded. See below.

Dear Labor Leader,

The Employees’ Retirement System of Rhode Island (ERSRI) is upgrading its computer system to a modern technology platform that will enable us to deliver better customer service.

The system upgrade will NOT impact the monthly pension payroll. Retirees’ pension payments WILL be made as regularly scheduled on the last business day of the month.

Here is important information you can share with constituents who may contact you with questions about changes to the system:

  • ERSRI is moving to a modern technology platform that will enable us to deliver better customer service.
  • The new system will allow for future integration between ERSRI and TIAA (the Defined
  • Contribution Plan) websites.

  • The new system will enhance the benefit estimate tool and offer easier navigation with a new look and feel.

During the conversion there are a few items you may communicate to your constituents if asked:

  • Address changes cannot be made through the ERSRI website from May 9 to June 6. However, your constituents may mail changes or contact ERSRI directly.
  • There may be delays in processing retirement applications, benefit and eligibility estimates and changes to account information as we transfer to the new system.

We appreciate your constituents’ patience during this transition, and will make every effort to respond to all inquiries and requests as quickly as possible.

Please feel free to contact my office with any questions, at (401) 462-7600.

Sincerely,

Frank Karpinski
Executive Director, Employees’ Retirement System of Rhode Island

Also, please remember that the 2016 Giovanni Folcarelli Scholarship applications are due May 21. Children and grandchildren of members in good standing are eligible for this award. The application packet can be found on the RI Council 94 website.

Thanks!