Glaziers Local 1621, I want to start by wishing everyone a Merry Christmas and Happy Holidays. Please take this time to spend it with your families and loved ones. The membership has decided to cancel the December 12th, 2023, union meeting so we will see everyone at our regular schedule meeting on the 9th of […]
December 01, 2023Painters & Drywall Finishers Pension increase
Posted January 7, 2022
I have received many calls from members about the Town Hall Meeting on Monday December 20, 2021. The meeting was regarding the International Pension. The Bay Area Painters and Tapers Pension is our local pension plan. Disregard if you were on the meeting. It was sent to all members of the International Union of Painters and Allied Trades but did not pertain to our local pension fund.
Hopefully you have received a letter by now explaining the latest decision to increase our active pension plan and the changes that will be coming to the Bay Area Painters and Tapers Pension Fund. The Trustees for the Pension voted and passed a Retroactive Benefit Increase. Effective for benefit payments made on or after January 1, 2022, Participants with at least 400 Hours of Service in Covered Employment during the 2020 Calendar Year shall have an increased crediting factor of the monthly amount from a 1.0% multiplier to 1.50% of the Contributions that were made on or after July 1, 2003 to December 31, 2020.
Bay Area Painters and Tapers website can be accessed at https://bayareapainterstrust.org/
Happy New Year!
Troy Notrangelo
Business Representative
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