Perhaps you've heard about pension reform on the news? Multiemployer benefit funds provide retirement, paid sick leave, vacation, and other paid benefits to millions of middle and working-class Americans and retirees, but these funds are complex. Join Traci Dority-Shanklin, the client and union advocate with over 20 years of managing Taft-Hartley funds, as she navigates the complex world of Taft-Hartley and speaks with the experts who help guide these plans. Guests will share the latest developments, their personal stories, and their perspectives as they help unlock the mysteries of these funds.
Not All Hybrid Plans Are Created Equal
A hybrid retirement plan combines parts of a defined benefit plan with parts of a defined contribution plan. Dan Doonan, the Executive Director of the National Institute on Retirement Security, and Elizabeth Wiley, a consulting actuary at Cheiron, wrote the book on hybrid plans – literally! Dan and Elizabeth penned The Hybrid Handbook, a white paper on hybrid retirement plans in the public sector. Listen as they share their insights on these plans along with some of their favorite case studies.
Some highlights from Not All Hybrid Plans Are Created Equal include:
01:27 – Hybrid Retirement Plans: The Case Studies
06:30 – The Best Time to Plant a Tree…
10:56 – Unfunded Liabilities and a Cause for Concern
14:35 – Risk Sharing vs Risk Shifting
19:03 – The Efficiency of Pensions vs Defined Contribution
24:30 – Thoughts on Pension Reform
Click on The Hybrid Handbook if you'd like to read or download a PDF of Dan and Elizabeth's white paper.
Hybrid Retirement Plans 101 with Dan Doonan & Elizabeth Wiley
Hybrid retirement plans are becoming a viable option to the traditional defined benefit and defined contribution plans, but what are they? And who are they right for? Dan Doonan, the Executive Director of the National Institute on Retirement Security, and Elizabeth Wiley, a Cheiron consulting actuary, co-authored The Hybrid Handbook, where they outline various public hybrid retirement plan structures. Dan and Elizabeth demystify these plans and explain why some struggling multiemployer plans should consider a hybrid option.
Some highlights from Hybrid Retirement Plans 101 include:
03:37 – The Hybrid Handbook
05:55 – The Spectrum: Defined Benefit & Defined Contribution
10:16 – Types of Hybrid Plan Structures
17:27 – Is Risk Sharing a Negative?
22:30 – Communication is Key
Click on www.nirsonline.org if you'd like to download or read a PDF copy of Dan and Elizabeth's "Hybrid Handbook"
UnionTrack's Engage: The Union-Friendly App with Ken Green
Uniontrack’s Engage app combines union dues payment software, union membership communication software, and grievance tracking software into a web-based system. Uniontrack created the union-friendly app, and their CEO, Ken Green, explains how the Engage app solves workflow issues for unions and empowers the next generation of union members through technology.
Some highlights from Uniontrack’s Engage: The Union-Friendly App include:
03:35 – Solving Union Workflow Issues
09:17 – Unifying Union Operations
13:54 – Leverage Technology for Organizing
19:06 – Connecting & Communicating with Engage
21:07 – Dispelling Myths About Labor
25:32 – Building a Movement with Technology
Union Matters: the Brotherhood & the Sisterhood with Elizabeth Murray-Belcaster
The union brotherhood and sisterhood are committed to more than its own membership. When 9/11 happened, the Teamsters mobilized truckloads of cell phones and radios to rescue workers. Elizabeth Murray-Belcaster, the CEO of EMB Consultants who consults on training to placement programs with the Department of Defense and trade unions, rejoins the podcast. Elizabeth shares how the brotherhood and the sisterhood have impacted diversity, three presidential administrations, and the Department of Defense’s SkillBridge program.
Some highlights from Union Matters: The Brotherhood & the Sisterhood include:
02:01 – Will the Welder
06:38 – Industry Stakeholders and Millennials
11:07 – Obama, Trump, and Biden…
14:26 – The Only Woman in the Room
19:50 – Union Proud: The Teamsters!
Union Matters: Veteran Training Programs with Elizabeth Murray-Belcaster
Labor unions provide workers with better wages and safer workplaces, but did you also know that they train transitioning military veterans in career pathways for civilian life? Our next guest develops and implements veteran training to placement programs with the Department of Defense and labor unions. The CEO of EMB Consultants, Elizabeth Murray-Belcaster, shares her experiences with the DOD’s SkillBridge program and why more organized labor should invest in these programs.
Some highlights from Union Matters: Veterans Training Programs include:
01:48 – Getting Endorsements
06:26 – Transition is a Culture!
11:45 – Nothing Happens in a Vacuum
14:57 – Why Aren’t We Doing These Programs Everywhere?
18:44 – Case Studies: the Teamsters and Utility Workers of America
25:45 – The DOD’s SkillBridge Program
The Value of Union Membership with Liz Shuler
You may know that union workers make more money than non-union workers, but did you know that 92% of union workers have a guaranteed pension compared to only 68% of non-union workers? Liz Shuler, the secretary-treasurer of the AFL-CIO, joins Traci on the podcast to discuss the future of defined benefit plans, the union brand, and busting her favorite myths about organized labor.
Some highlights from The Value of Union Membership with Liz Shuler include:
01:46 – Understanding the Value of Union Membership
06:29 – The Future of Defined Benefit Plans
09:30 – The Pension Model Evolves
13:38 – Union Myth-Busting
16:55 – The Digital Revolution and Union Innovation
22:06 – Racial Justice and a Blueprint for Change