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The infusion will raise the pension fund's status to more than 60% funded, up from 34.3% funded as of 2022, according to Tom Lutz, president of the Michigan Regional Council of Carpenters and ...
The first ULLICO scandal occurred in 2002. In June 1998, the New York City local of the carpenters union hired Zenith Administrators, a ULLICO subsidiary, to oversee the union's $1.7 billion pension and benefit funds. In 2002, federal prosecutors and DOL investigated the company for allegedly obtaining the contract through McCarron's influence.
This list of largest pension funds in the United States involves two main groups: ... New York State Common Retirement: $201,263 $201,263 93.7% 7.0% 4
After a period of time during 2009 - 2010, the International United Brotherhood of Carpenters decided to dissolve the local on December 14, 2010, and merge the members into Local Union 157, which currently covers the East Side of Manhattan. At a future date, another local may be created in Manhattan to take over the jurisdiction of Interior ...
Paschal was the managing trustee of the NYC District Council of Carpenters Benefit Funds when it purchased and renovated the new headquarters building at 395 Hudson Street in NYC at a cost that exceeded $120 million despite a $73 million appraisal. The building is often referred to as Paschal's Palace. [3]
Barons of Labor: The San Francisco Building Trades and Union Power in the Progressive Era. Champaign, Ill.: University of Illinois Press, 1987. ISBN 0-252-01345-X; Schneirov, Richard and Suhrbur, Thomas J. Union Brotherhood, Union Town: The History of the Carpenters' Union of Chicago, 1863-1987.
Since 2001, U.S. statewide pension funds have experienced significant funding challenges due to the recessions of 2001-2002 and 2008-2009. Prior to the Dot-Com Crash, statewide pension funds were over 95.6% funded in the aggregate. In 2002, the funded ratio had declined to 82.1%.
The N.Y.C. District Council of Carpenters maintains jurisdiction over carpentry, dock builder, timber man, millwright, floorcovering, specialty shops and exhibition work in the New York City area. As of 2015 the council oversees 7 member locals: 157, 740, 926, 45, 1556, 2287 and 2790.