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Patricia Copeland, Division of Investment Management

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2 Patricia Copeland, Division of Investment Management
HQ Representative and Steward ext Dean Suehiro, Division of Corporation Finance Treasurer and Steward ext Kay Reid, Division of Corporation Finance Steward ext

3 What Is NTEU? A powerful federal employees union
NTEU represents over 150,000 federal employees in hundreds of chapters across the nation The agencies NTEU represents include FDIC, OTC, Commerce, Justice, Treasury, EPA, FCC, FEC, and IRS NTEU represents all non-management employees at the SEC – some 2,500 employees nationwide


5 News on federal employee issues
The chapter newsletter, Chapter 293 Works The CBA & other resources for SEC employees Information on NTEU member benefits

6 How Does NTEU Benefit You?
Protection & Representation; Lobbying for Better Compensation; Arbitration of National Issues; and Negotiations for Quality of Life.

7 Protection & Representation
None of us ever expect a problem, but problems can arise… Poor performance appraisals Disciplinary actions Other situations NTEU is here if you need assistance

8 Lobbying 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.

9 Lobbying for Better Compensation
Each year, the administration proposes a pay raise, but NTEU lobbies for a better one 2002: 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 enacted 2008: 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

10 It 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.

11 It 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.

12 2002 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.

13 Our Salaries vs. GS Employees Based On Maximum Step In The Grade
Grade US GS Employee INCREASE 16 $191,487 $153,200 (MAX) $ 38,287 14 $167,679 $133,543 $ 34,136 13 $146,032 $113,007 $ 33,025 12 $122,807 $ 95,026 $ 27,781 11 $102,461 $ 79,280 $ 23,181 10 $ 86,698 $ 72,164 $ 14,534 9 $ 78,726 $ 65,531 $ 13,195 8 $ 70,246 $ 59,333 $ 10,913 7 $ 63,431 $ 53,574 $ 9,857 6 $ 56,232 $ 48,207 $ 8,025

14 Our 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.

15 Negotiating 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.

16 Quality of Life Benefits
Telework (working from home) up to five days per week Alternative 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 debt From , 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.

17 Credit 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 Policy Before 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 Subsidy Before 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.

18 NTEU also Negotiated the Following Here at Headquarters
Fitness center Childcare center Health unit Pantries with sink, refrigerator and microwave Snack shop managed by the Blind Association (“Dunkin’ Donuts”) Treasury Department FCU & ATM The impact of the Enforcement Division reorganization

19 Arbitration of National Issues
Sometimes the SEC takes positions on employee rights and benefits that require arbitration Arbitration process involves an independent arbitrator who makes a decision on the dispute based on the facts of the issue Prior to the CBA, the disputes were settled by a management panel NTEU is here to resolve issues you wouldn’t be able to resolve by yourself

20 Significant 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 period Cutbacks in the Student Loan Repayment Program- Arbitrator ruled that the SEC must continue to include the Plus Loans in this program.

21 Some 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.

22 2009 NTEU Legislative Priorities
Pay parity for federal employees Status: 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 calculation Accomplished: Became law on 10/28/09 Increase access and affordability of our health plans and provide paid parental leave Status: Paid parental leave approved by House and Senate bill pending

23 2009 NTEU Legislative Priorities
Increase agencies funding to accomplish its missions and opposing government privatization Status: 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 partnerships Accomplished: On 12/9/09, the President issued an Executive Order on labor-management collaboration

24 Dues 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.

25 Why You Should Join NTEU
There is strength in numbers Lobbying, negotiations and representation of employee interests are all much more effective when our membership numbers are high You can help us to help you, by joining NTEU Chapter 293

26 Strength in Numbers “Our record, visibility and effectiveness are what the employees see and what they want.” NTEU President Colleen Kelley

27 For 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.

28 Members Also Get Benefits
Short-Term Disability Insurance Professional Liability Insurance Cancer Insurance Hospital Indemnity Insurance Universal Life Insurance

29 Members Also Get Benefits
Critical Illness Insurance Long-Term Care Insurance Auto & Home Insurance Credit Card Discounts Banking Discounts

30 Members Also Get Benefits
Accidental Death & Dismemberment Insurance Discounts on Products and Services Relocation and Moving Services Subscription to The NTEU Bulletin Electronic e-Bulletins from NTEU

31 Please consider supporting our work by joining NTEU.

32 Thank you. NTEU’s Mission: To organize federal employees to work together to ensure that every federal employee is treated with dignity and respect.

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