2Patricia Copeland, Division of Investment Management HQ Representative and StewardextDean Suehiro, Division of Corporation FinanceTreasurer and StewardextKay Reid, Division of Corporation FinanceStewardext
3What Is NTEU? A powerful federal employees union NTEU represents over 150,000 federal employees in hundreds of chapters across the nationThe agencies NTEU represents include FDIC, OTC, Commerce, Justice, Treasury, EPA, FCC, FEC, and IRSNTEU represents all non-management employees at the SEC – some 2,500 employees nationwide
5www.secunion.org News on federal employee issues The chapter newsletter, Chapter 293 WorksThe CBA & other resources for SEC employeesInformation on NTEU member benefits
6How Does NTEU Benefit You? Protection & Representation;Lobbying for Better Compensation;Arbitration of National Issues; andNegotiations for Quality of Life.
7Protection & Representation None of us ever expect a problem, but problems can arise…Poor performance appraisalsDisciplinary actionsOther situationsNTEU is here if you need assistance
8Lobbying for Better Compensation NTEU’s powerful lobbying department fights hard for the rights of SEC employees on Capitol Hill.One of the best examples of this is the annual federal pay raise.
9Lobbying for Better Compensation Each year, the administration proposes a pay raise, but NTEU lobbies for a better one2002: 3.6% proposed, but NTEU got us 4.6%2003: 2.6% proposed, but NTEU got us 4.1%2004: 2.0% proposed, but NTEU got us 4.1%2005: 1.5% proposed, but NTEU got us 3.5%2006: 2.3% proposed, but NTEU got us 3.1%2007: 1.8% proposed and enacted2008: 3.0% proposed, but NTEU got us 3.5%2009: 2.9% proposed, but NTEU got us 3.9%2010: 2.0% proposed, NTEU lobbying for pay parity with the military
10It Adds Up Over Time…If you made $50, in 2001, NTEU’s hard work paid you a total of over $26,000 more over the next eight years.
11It Adds Up Over Time…If you made $125,000 in 2001, NTEU’s hard work paid you a total of over $66,000 more over the next eight years.
122002 SEC Pay Parity Law NTEU’s lobbying efforts passed this law. We are off the GS pay schedule and our salaries are 11.7%-29.2% higher than federal employees on the GS pay schedule.NTEU is currently working with Congress to increase SEC employee retirement benefits.NTEU works for us every year to fully fund our merit pay budget by lobbying Congress.
13Our Salaries vs. GS Employees Based On Maximum Step In The Grade Grade US GS Employee INCREASE16 $191,487 $153,200 (MAX) $ 38,28714 $167,679 $133,543 $ 34,13613 $146,032 $113,007 $ 33,02512 $122,807 $ 95,026 $ 27,78111 $102,461 $ 79,280 $ 23,18110 $ 86,698 $ 72,164 $ 14,5349 $ 78,726 $ 65,531 $ 13,1958 $ 70,246 $ 59,333 $ 10,9137 $ 63,431 $ 53,574 $ 9,8576 $ 56,232 $ 48,207 $ 8,025
14Our Compensation Agreement The Pay Parity Law allows us to negotiate our compensation package. This right is not available to most other federal employees, other than employees of FIRREA (Financial Institutions Reform, Recovery and Enforcement Act) agencies (such as OTC, OCC, NCUA, FDIC).NTEU negotiated the following:Additional health plan contribution of $25 for single and $50 for family per pay period.Free dental and vision plans.Cost of living adjustment equal to the amount given to federal employees on the GS schedule.Merit pay- a new performance appraisal system that is fair and credible is being developed. Until such a system is implemented, all employees who received an “acceptable” performance rating will receive “equivalent share” pay increase based on the merit pay budget.
15Negotiating for Quality of Life NTEU goes to the negotiating table on your behalf to achieve more flexibility for you, and a better quality of life.The union has negotiated a 200-page Collective Bargaining Agreement that sets forth these rights and benefits.
16Quality of Life Benefits Telework (working from home) up to five days per weekAlternative schedules such as 5-4/9 and 4/10. Staff participation in 5-4/9 schedule is 38% and 4-10 schedule is 4%.Student Loan Repayment Program – up to $10,000 per year to pay off student loan debtFrom , SEC disbursed approx. $18.9 million for 2,197 student loans. This program includes Plus Loans. Plus Loans are loans parents enter into to pay for their children’s college education.
17Credit Hours (time off for extra hours worked) Before the contract, we had to earn and use credit hours within each pay period or lose it. NTEU negotiated to allow us to carry over 24 credit hours from pay period to pay period.Relaxed Attire PolicyBefore the contract, we were required to wear business attire. NTEU negotiated to require business attire only when we have face-to-face interaction with the public.Transit SubsidyBefore the contract, our transit subsidy was below the amount that was available to other federal employees. NTEU negotiated to require our transit subsidy to equal the maximum allowed by law subject to our budget. Currently, $230 per month.
18NTEU also Negotiated the Following Here at Headquarters Fitness centerChildcare centerHealth unitPantries with sink, refrigerator and microwaveSnack shop managed by the Blind Association (“Dunkin’ Donuts”)Treasury Department FCU & ATMThe impact of the Enforcement Division reorganization
19Arbitration of National Issues Sometimes the SEC takes positions on employee rights and benefits that require arbitrationArbitration process involves an independent arbitrator who makes a decision on the dispute based on the facts of the issuePrior to the CBA, the disputes were settled by a management panelNTEU is here to resolve issues you wouldn’t be able to resolve by yourself
20Significant Arbitration Decisions Fundamental Problems with the Merit Pay System- Arbitrator found the merit pay system to be a subjective program for awarding merit increases that violated Title VII of the Civil Rights Act, as well as the Age Discrimination in Employment Act. NTEU reached a favorable settlement – including $2.7 million in back pay, as well as salary adjustments for the periodCutbacks in the Student Loan Repayment Program- Arbitrator ruled that the SEC must continue to include the Plus Loans in this program.
21Some of NTEU’s Lobbying Efforts on Behalf of US NTEU is working closely with Congressman Barney Frank’s office to obtain an additional 2% match in our retirement plans. Barney Frank is the Chairman of the House Committee on Financial Services, which oversees the SEC.Increase in our merit pay budget.NTEU is addressing the interest of the SEC staff with the Obama Administration and Congress concerning the reorganization of the nation’s financial regulatory systems.
222009 NTEU Legislative Priorities Pay parity for federal employeesStatus: Senate and House conferees approved 2.0% COLA with 0.5% allocated to locality pay. President Obama’s budget did not include any allocation to locality pay.FERS unused sick leave to count towards the retirement calculationAccomplished: Became law on 10/28/09Increase access and affordability of our health plans and provide paid parental leaveStatus: Paid parental leave approved by House and Senate bill pending
232009 NTEU Legislative Priorities Increase agencies funding to accomplish its missions and opposing government privatizationStatus: Senate and House conferees increased our FYE 2010 budget by $85 million. This increase will make human capital improvements at the SEC possible.Ensuring collective bargaining rights including reinstating labor management partnershipsAccomplished: On 12/9/09, the President issued an Executive Order on labor-management collaboration
24Dues Pay You Back$3,250 or $8,250 - if you made $50,000 or $125,000 in 2001, NTEU’s hard work on the annual COLA provided this to you annually over the next seven years.$650 or $1,300 - the SEC additional contribution annually towards your health plan.$600 - the annual transit subsidy has increased due to the CBA (without the CBA we could still be getting only $780 annually). $1,680 when new increase is considered.$309-$928 (approx.) – vision and dental costs for individual or family plan that are free to us but must be paid by other federal employees.$4,034-$38,287 - You are receiving 11.7%-29.2% higher annual salaries than federal employees on the GS pay schedule. Bi-weekly dues are $11.44 (min.)-$27.11 (max.) based on your salary.
25Why You Should Join NTEU There is strength in numbersLobbying, negotiations and representation of employee interests are all much more effective when our membership numbers are highYou can help us to help you, by joining NTEU Chapter 293
26Strength in Numbers“Our record, visibility and effectiveness are what the employees see and what they want.”NTEU President Colleen Kelley
27For the price of a cup of coffee a day in dues, you can support all of the important work that NTEU does on your behalf.
28Members Also Get Benefits Short-Term Disability InsuranceProfessional Liability InsuranceCancer InsuranceHospital Indemnity InsuranceUniversal Life Insurance
29Members Also Get Benefits Critical Illness InsuranceLong-Term Care InsuranceAuto & Home InsuranceCredit Card DiscountsBanking Discounts
30Members Also Get Benefits Accidental Death & Dismemberment InsuranceDiscounts on Products and ServicesRelocation and Moving ServicesSubscription to The NTEU BulletinElectronic e-Bulletins from NTEU
31Please consider supporting our work by joining NTEU.
32Thank you.NTEU’s Mission: To organize federal employees to work together to ensure that every federal employee is treated with dignity and respect.