Teamsters establish new pension fund for pipeline workers
(Source: International Brotherhood of Teamsters press release, October 5, 2012)
WASHINGTON, D.C. — The trustees that comprise the board of the newly-established National Teamsters Pipeline Pension Fund met on September 28, 2012, at the IBT headquarters to discuss final stages for setting up the fund and other organizational matters. This pension fund will provide benefits for Teamsters who are pipeline workers.
The trustees elected David Laborde, director of the Pipeline division for the Building Materials and Construction Division as Chairman. The Fund’s board of Trustees consists of three management and three union trustees. General President Jim Hoffa had appointed LaBorde, Marion Davis, director of the Division, and Kevin Moore, International Trustee, as the three union trustees.
The management trustees – Robert Osborn of Michels Corporation, Robert Riess of Sheehan Pipeline Construction and Ronnie Wise of Price Gregory -- represent some of the largest pipeline employers.
“It’s an honor to be part of this new fund which was established exclusively for the benefit of our pipeline members,” Moore said. “Our General President, Jim Hoffa, was the catalyst for approving the fund and I know he is committed to its success. I will work diligently to represent our members.”
“We are in a strong position with currently holding a $5 million balance,” Davis said. “As more employers come on line, the fund will continue to grow.”
There are more than 3,500 Teamster members who work in the pipeline industry and, according to industry predictions, this type of work will continue trending upwards for years to come. As an example, the Keystone XL pipeline has two sites in Texas and Oklahoma underway that are employing 350 Teamsters. In addition, work for a 600 mile project through several states is currently being negotiated as part of the Flanagan Line.
In July, Hoffa, along with the General Presidents of the other major pipeline crafts, approved the transfer of $100,000 from the defunct Pipeline Unions Mobilization Project (P.U.M.P.) to lobby for permits for the installation of over 1,300 miles of new pipeline installation for one of the largest natural gas pipeline companies in the U.S., ONEOK. This project will cover territory in North Dakota, Wyoming, Colorado and Kansas.
“Due to the efforts of the major pipeline crafts, we secured an agreement with ONEOK Partners guaranteeing that at least 65 percent of the work will be performed by the four crafts – Teamsters, Laborers, Operating Engineers and Welders,” Davis said. “The remaining 35 percent of the work will be issued for competitive bids. We anticipate that some of this work will be covered under a collective bargaining agreement as well.”
“While the work on ONEOK is not scheduled to begin until (possibly) late 2013 or early 2014, we feel that it, along with Keystone, will provide pipeline construction work for our members for the next three to five years, if not longer,” Davis said.
The Building Material and Construction Trade Division represents more than 93,000 members who work for construction firms throughout the United States.
Founded in 1903, the International Brotherhood of Teamsters represents 1.4 million hardworking men and women throughout the United States, Canada and Puerto Rico. Visit www.teamster.org for more information. Follow us on Twitter @Teamsters and “like” us on Facebook at www.facebook.com/teamsters.
Friday, October 05, 2012
© 1997-2013 Brotherhood of Locomotive Engineers and Trainmen