PHILADELPHIA, Nov. 4 /PRNewswire-USNewswire/ -- While other issues remain unsettled, the key issue is pensions and how worker pensions will be funded. The Southeastern Pennsylvania Transportation Authority (SEPTA) has under-funded member's pensions for more than 20 years.
SEPTA's board is demanding that TWU members pay for a greater share of their pension to make up for their mismanagement of the plan. Meanwhile SEPTA is increasing pension benefits for managers who make lower contributions -- which we find completely unfair.
Many of the comments made yesterday by political figures were not helpful and were inaccurate. Local 234 had made it clear through public statements and advertising that a strike was a strong possibility. While we acted in good faith and continued to negotiate until after the final home game of the World Series -- a strike was always a possibility. Mayor Nutter intentionally misled the public on Saturday by stating "that a strike was off the table." This was a disservice to those that rely on the transit system as well as to area commuters.
We greatly appreciate Governor Rendell's efforts to bring about a settlement. However, the numbers the governor has widely circulated are misleading. The way I do arithmetic, if I give you three dollars and I immediately take away two -- you're left with one dollar. In the governor's math you would still have three dollars. In the real world, the proposed salary increase would be dramatically reduced by the increased out-of-pocket pension contributions.
We know these are difficult times for many in our community and across the nation. However, the City Transit Division of SEPTA is experiencing record levels of ridership, record levels of revenue and an unprecedented infusion of $200 million in federal stimulus dollars -- a portion of which is directed to operating costs. Our modest pension proposals would not create a financial hardship for the Authority in any way.
Pension security is important to our members. In order to protect our retirement years we will stay out as many days as it takes to reach a fair settlement.
We are united and we are one.
Local 234 is an affiliate of the Transport Workers Union of America (TWU) which represents 200,000 workers and retirees, primarily in commercial aviation, public transportation and passenger railroads, including 5,100 workers at SEPTA. The union is an affiliate of the AFL-CIO.
Transport Workers Union Local 234
