Offical Business
Membership Meeting Scheduled for Monday, May 24, 2010 at 4PM at Artserve.
Membership Meeting Reminder
The next membership meeting will be held:
- Date: Monday, 5/24/10
- Time: 4 PM
- Location: Artserve, 1350 East Sunrise Blvd., Fort Lauderdale
- Agenda: Proposed Amendments to the Bylaws:
Whereas the AFM-EPF has proposed a rehabilitation plan and
Whereas the AFM-EPF will begin assessing all signatories to the fund surcharges of 5% of contributions paid upon adoption of the plan, and an additional 5% on April 1, 2011 and
Whereas these surcharges will apply to Local 655 for the contributions it pays on behalf of its employees and
Whereas the surcharges will not result in any additional benefits to participants and
Whereas these surcharges can be avoided by increasing the contribution rates and
Whereas increasing the contribution rates as proposed below to avoid the surcharges will have a negligible financial effect on the amounts Local 655 will owe on behalf of its employees
Therefore be it
Resolved to amend the Local 655 Bylaws as follows:
ARTICLE VII OFFICERS Section 3. Wages and Benefits
Effective on the date that the AFM-EPF first imposes surcharges as proposed in its 2010 plan of rehabilitation (expected to be June 1, 2010):
Employees of the Local shall be covered by the AFM-EP Fund. The Local shall contribute to the fund 8% 8.5% of wages paid.
Effective April 1, 2011:
Employees of the Local shall be covered by the AFM-EP Fund. The Local shall contribute to the fund 8% 9% of wages paid.
The Bylaw Committee reports favorably on this proposal.
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