Mismanagement of union funds
News - - Posted on July, 31 at 10:06 am
Our officers continue to collect more salaries and benefits than most other comparable unions in the county.
Feeding at the troth
Although John Bowers left the ILA in a financial crisis, he will retire collecting half his salary as a “President Emeritus.” This will be around $225,000. In addition, he will be eligible to collect a pension from his local and from the International.
After disgraced International Executive Vice President Cernadas plead guilty to racketeering charges he asked that he receive his $16,000 per month / $192,000 per year pension from the international. This is on top of whatever pension credit he receives out of his local.
After the ILA was notified that they had` under funded their own pension plan according to the ERISA laws, the union now pays approximately $866,000 per month or $10.4 million per year, to cover its 30+ international officers.
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