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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 ...
Paschal was born in County Cavan, Ireland. During his early life, he learned the Carpenter trade via an apprenticeship program. After emigrating to the United States, Paschal joined Local Union 608 of the United Brotherhood of Carpenters and Joiners of America in November 1957. Paschal McGuinness lives in Spring Lake NJ and Myrtle Beach, SC.
The typical IMRF retiree receives a modest and sustainable benefit, earned after decades of public service. In 2020, 56% of retirees received a benefit of less than $12,000 annually. [2] In 2019, IMRF became the first public pension fund in the nation to receive a Malcolm Baldrige National Quality Award for Performance Excellence.
Millmen 550—A History of the Militant Years (1961–1966) of Local 550, United Brotherhood of Carpenters. Self-published, 1990. Kazin, Michael. 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
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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.
The Iron Workers soon found themselves at war with the AFL and, in particular, the United Brotherhood of Carpenters and Joiners of America. The Carpenters claimed that pile-driving work, which was done primarily by Iron Workers in many areas, belonged to them and convinced the Building Trades Department to go along with them.
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