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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.
This list of largest pension funds in the United States involves two main groups: government pension funds for public employees and collectively bargained pension funds, jointly managed between employer and employee representatives after the Taft-Hartley Act of 1947.
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 ...
The union also found itself challenged by a change in the business climate in the 1970s, as non-union contractors invaded markets that had been solidly union for years with the support of the Business Roundtable, made up of the heads of General Motors, General Electric, Exxon, U.S. Steel, DuPont and others. The Roundtable also attempted to ...
Allen Dorfman rose to prominence following World War II and by the late 1950s was a close cohort of IBT President Jimmy Hoffa.Dorfman's rise coincided with enormous expansion in Teamsters' ranks, along with spectacular growth in the union's pension funds, which eventually came largely under Dorfman's administration.
The council represents approximately 43,000 union carpenters across New Jersey, Maryland, Delaware, Pennsylvania, Washington, D.C., Virginia and West Virginia. The Westside Community Center in ...
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; Schneirov, Richard and Suhrbur, Thomas J. Union Brotherhood, Union Town: The History of the Carpenters' Union of Chicago, 1863-1987.
In 1948, he was elected business manager of Local 721 in Los Angeles, and in 1957 secretary-treasurer of the Los Angeles District Council of Carpenters. He served as a trustee for the Carpenters Health and Welfare Fund for Southern California, and as a pension trustee for the Carpenters Pension Trust for Southern California.