Retirement Crisis: The Great 401(k) Experiment Has Failed for Many Americans

Kelley Holland for CNBC -You need to know this number: $18,433. That's the median amount in a 401(k) savings account, according to a recent report by the Employee Benefit Research Institute. Almost 40 percent of employees have less than $10,000, even as the proportion of companies offering alternatives like defined benefit pensions continues to drop.

Older workers do tend to have more savings. At Vanguard, for example, the median for savers aged 55 to 64 in 2013 was $76,381. But even at that level, millions of workers nearing retirement are on track to leave the workforce with savings that do not even approach what they will need for health care, let alone daily living. Not surprisingly, retirement is now Americans' top financial worry, according to a recent Gallup poll.  Click Here to read more.

The James R. Hoffa Memorial Scholarship Fund has announced the topic for the 2015 Essay Contest.  The contest is open to applicants which are the son, daughter or financial dependent of a Teamster member (including GCC, BMWED, BLET members) who are 23 years of age or younger and currently a student at a community college, four-year institution or vocational/technical school.  Winners are awarded $1,000.

The application must be filled out and provided with the essay (500 words or less) no later than June 15, 2015.  Applications and essays may be e-mailed to: Scholarship@teamster.org or mailed in to:  JRHMSF Essay Contest, 25 Louisiana Avenue, NW, Washington, DC  20001.

The 2015 topic is: What impact would an increase in union membership have on the U.S. economy and the middle class?

Click Here to download an application

From the Albuquerque Journal By Dan Boyd A high-profile push to approve a New Mexico right-to-work law stalled during the recent 60-day legislative session, but the issue appears likely to be back next year — both in the Roundhouse and on the 2016 campaign trail.

Business leaders and other backers of the proposed state labor law change say they intend to keep up the pressure, despite strong opposition from state labor unions.

“Nobody locally thinks this issue is dead,” said Drew Dolan, the president of a political committee formed last fall largely to advocate for passage of a right-to-work law. “It’s something our state can do that doesn’t cost a dime and can create more (economic) opportunities the minute it’s approved.”

The group, called Jobs for All New Mexico, drew the ire of majority Senate Democrats during the legislative session by sending out mailers in at least one senator’s district.

But Dolan, who is also the president of Titan Enterprises, an Albuquerque real estate company, said the group will continue to advocate for a right-to-work law. “The goal is to make it a campaign issue,” he said Friday.

All 112 New Mexico legislative seats are up for election in 2016, and many races could be expensive.

On the other side of the issue, labor union leaders say they’re bracing for another attempt at passing right-to-work legislation and also plan to be politically active.

“We absolutely will weigh very heavily where legislators were on basic workplace fairness issues, worker pay and benefits in deciding where we play (in next year’s elections),” said Carter Bundy, political director of the American Federation of State, County and Municipal Employees union in New Mexico.

He also said the push to make New Mexico the nation’s 26th state with a right-to-work law —Wisconsin became the 25th earlier this year — has galvanized the state’s unions, saying, “We’re united as we have not been in decades.”

This year’s most visible right-to-work measure cleared New Mexico’s Republican-controlled House, but was derailed in a Senate committee on March 10.

It would have meant nonunion employees — in both the private and public sectors — would not have had to pay union fees as a condition of employment. Though union membership cannot be required under federal law, such fees can be mandated under contracts in unionized workplaces.

Rep. Dennis Roch, R-Logan, who sponsored the House-approved bill, said similar legislation likely will be introduced during next year’s shorter legislative session. The governor has the authority to set the agenda for 30-day sessions.

“It’s something I believe in, and it’s something I’d be interested in doing again,” Roch told the Journal. “I think you’re definitely going to see that show up in the 30-day session.

A spokesman for Gov. Susana Martinez said Friday the Republican governor “absolutely” continues to support the concept behind the bill, but is currently focused on reviewing bills passed during this year’s session.

Meanwhile, Senate Majority Whip Michael Padilla, D-Albuquerque, said any future right-to-work bills would have to be scrutinized, but said he believes such laws in other states have stifled worker pay levels.

“If this is a priority of the governor, I would expect it to be back,” he said

Brothers and Sisters it was inspiring to see all who took the time to travel to Santa Fe, NM on Sunday, the eighth of March 2015, to attend a rally against the “Right to Work” agenda that was being proposed during the 2015 State Legislative session.  To view Photos, Click Here

Those Teamster Brothers and Sisters in attendance were from the following companies; ABF Freight (actives & retirees), YRC Freight (actives & retirees), United Parcel Service [Socorro Center, Albuquerque Centers (Gateway, Comanche Hub, Feeder Dept.) & the Santa Fe Center], Creamland Dairies, LANL (Los Alamos National Labs), EVSWA (Estancia Valley Solid Waste Authority), Sysco Foods, Movie Industry and the BLET (Brotherhood of Locomotive Engineers & Trainmen). 

Brother Joseph Carrillo, an ABF OTR driver, who has been working at the Local Union during this Legislative session, has done one outstanding job helping with the D.R.I.V.E. campaign along with coordinating volunteers and communicating with our stewards towards getting the word out for this fight against “RTW”.  I personally want to THANK EVERYONE, on behalf of the Local Union, who helped with stuffing envelopes, after work and on the weekends, and in general, gave of your time for this very important fight. 

It was great to see everyone come together, but this fight is not over, it will rear its ugly head as long as there are major corporations and out-of-state people like the Koch Brothers involved.  Be prepared to start this battle all over again next year. 

This hard fought battle proves when there is apathy during election cycles, there are repercussions to not having labor friendly representatives in office, regardless of political and/or party affiliation. Remember to thank your State Senators as they were the ones who held down the lines when push came to shove.  Those labor friendly State Representatives being in the minority, could not overcome their anti-labor opponents on February the 25th, when the House of Representatives conducted their vote.  They also need to be thanked for their efforts! Click Thanks to These NM Legislators for a current list which includes their email addresses.  

A great big Thank You,  also goes out to President Steve Vairma and his Joint Council No. 3 Executive Board for their help with providing Jim Adams and your Joint Council truck during this 2015 Legislative session, it provided an awesome backdrop (To view Photos, Click Here) and also a great stage where several speakers took advantage of its availability.  Brother Jim Adams followed in the footsteps of Brother Jimmy Hatfield (who initially was in charge of keeping the Joint Council truck looking like a top); they both were and are super ambassadors as Union/Teamster members as they go about doing their work.  Thanks Brother Adams you are also owed a big Thank You! 

The New Mexico Conference of Catholic Bishops has sent the following letter today. 

March 10, 2015

The Bishops of New Mexico oppose SB183 and HB75 “Right to Work” legislation. It is important for all Catholics to understand how Right to Work laws hurt workers and families and contradicts our Churches social teachings on the dignity of work and the rights of workers. At first glance Right to Work sounds like a law that protects workers’ rights. “Why shouldn’t I be able to work without an obligation to my job sector’s union? It’s my right not to pay unions to negotiate the contract – I don’t belong to the union and it’s my money.” Sadly, this attitude reflects our increasingly individualistic society where one privileges his rights above the common good. Not only does Right to Work fracture the sense of solidarity among workers that unions help foster, it also can put employees’ basic rights and protections into peril.

There is a good reason why Pope Leo XIII declared over 120 years ago that, “the most important of all (workplace associations and organizations) are working men’s unions.” (on the condition of labor, No. 49). In Right to Work states the union’s ability to collect dues from all workers to cover the cost of a contract negotiation ends up impacting workers and their families across the employment sector, both public and private, union and nonunion. Benedict XVI observed in Caritas in Veritate, unions are experiencing “great difficulty in carrying out their tasks of representing the interest of workers, partly because governments often limit the freedom or negotiating capacity of labor unions.” He also declared that, “the repeated calls issued within the Churches social doctrine for the promotion of workers’ associations that can defend workers’ rights must be honored today even more than in the past.” (No. 5). As Catholics it is our duty to go forth and proclaim our Churches teachings to all.

On behalf of the Catholic Bishops of New Mexico.

Allen Sánchez

Executive Director

HB75 and SB163 tabled in Senate Public Affairs committee, working family advocates thank legislators who stood strong against bills

Written by the NMFL -Mar. 10, 2015 - Legislation to make New Mexico a “Right to Work” state failed to pass out of the Senate Public Affairs committee on Tuesday night after HB75 and SB163 were tabled on a party line vote. Since the start of the session, labor and community members have been taking action together to speak out against the controversial proposal in public hearings, rallies, and community town halls across the state. This past Sunday, hundreds of New Mexico workers packed the Roundhouse and testified against “Right to Work” for the first SPAC meeting on “Right to Work” bills.

Senators spent nearly two hours of their meeting dedicated to the “Right to Work” bills, with Senators on both sides of the debate taking the opportunity to make impassioned arguments for and against the passage of the bills. Most notable was Senator Jacob Candelaria, who described “Right to Work” as a “cloud of rhetoric in search of solid ground.”

“We are so grateful to the Senators who helped to ensure the prosperity of New Mexico’s economy tonight by voting down terrible ‘Right to Work’ legislation. We also want to thank the Senators who protected the committee process and voted to stop the fast-tracking of HB75 on the Senate floor, as well as the House members who fought valiantly to oppose ‘Right to Work’ in their chamber,” said Brenda Watson, Librarian, AFSCME 477. “We look forward to all our elected officials working together toward solutions to benefit all of our state now that this distraction has been put to rest, and we will take action to protect against any Hail Mary moves to bring these dead bills back to life.”

Sunday Rally Against RTW

On Sunday, there were over 500 union members at the RTW Rally enjoying food, music, and great speeches while Teamsters waved their Teamster towels. Buses and carpools full of working families from Las Cruces, Albuquerque, and across the state arrived in Santa Fe prior to the hearing for a lively rally calling on Senators to stand strong against deceptive “right to work” proposals. Thank you to everyone that came out. To view the Local 492 photos Click Here

AFSCME also posted photos you can View Here

We were notified today, the "Right to Work" Senate Hearing is from 2-5 PM this Sunday!

Calling all Teamsters!! To Rally at the Capital, Sunday March 8^th at 1 pm, against the unnecessary Right-to-Work laws that are being proposed in Santa Fe. We must not allow this dangerous unfair attack on our union and working families. Together we’ll join forces with other NM unions and stand united to defeat the war on workers and make a powerful statement to our legislators.

Wear your Teamster colors and bring your family, friends, and co-workers. Come get your Teamster Rally Towel and march with us in Santa Fe on Sunday March 8^th, at 1 pm, see you @ the Roundhouse, 490 Old Santa Fe Trail.

Are you coming from Albuquerque? You can ride on the FREE bus leaving around 11 AM from UA Local 412 Union Hall - 510 San Pedro Dr. SE, 87108. You can also take the Rail Runner, Click Here for schedule.

CALL your Senators NOW! Tell them "right to work" is WRONG for New Mexico!1-866-803-8830.

By Clicking Here, you can email your State Senator by simply entering your Zip Code.  There is a sample letter already written for you that you can modify or you can write your own if you wish. It takes less than one minute and can really make a difference. Make your voice heard now by Clicking Here!

Teamsters Local 492 has a new tool to stay in touch with you through your mobile phone! By simply texting the phrase TEAM492 to 86466, your cell phone number will be put in our data base to receive text updates from your Local Union. Please take a moment to text TEAM492 to the 5 digit phone number 86466.

The Union is only as strong as its members so please encourage all of your co-workers to text TEAM492 to 86466.

Don’t forget, there is a General Membership Union Meeting scheduled for 10 am and will be held at the Teamsters Union Hall (downstairs) at 4269 Balloon Park Rd. NE, Albuquerque, NM.

Read an Article published in the Albuquerque Journal about RTW by your own Teamsters Local 492 Secretary-Treasurer, Walter R. Maestas.

Click Here To Learn More Facts About RTW

Teamsters Local 492 has a new tool to stay in touch with you through your mobile phone! By simply texting the phrase TEAM492 to 86466, your cell phone number will be put in our data base to receive text updates from your Local Union. Please take a moment to text TEAM492 to the 5 digit phone number 86466.

The Union is only as strong as its members so please encourage all of your co-workers to text TEAM492 to 86466.

RTW Legislation Won’t Help Workers

New Mexicans should beware of the deceptive “right-to-work” legislation that politicians and CEOs are pushing.

The term ‘right to work’ was chosen by clever PR people to confuse the public about its true meaning. It sounds like something that helps workers. It isn’t. It’s nothing more than an intrusive government tactic to limit the power of unions.

The law already says no one in New Mexico can be required to join a union. It also says unions must represent every worker, whether they join or not. Unions may charge a fee to the workers they’re forced to represent – but only if the employer and employees agree. Right-to-work laws prevent employers and employees from making that decision.

The Chamber of Commerce doesn’t offer benefits to businesses that don’t pay dues. Unions shouldn’t have to, either.

Legislation like this is being promoted all over the country by a well-coordinated network of out-of-state billionaires and corporate special interest groups. They want to keep more profit for themselves. These are the same groups that are downsizing, shipping jobs overseas, and hiding profits offshore to avoid paying the taxes that families and small businesses have to pay.  

At a time when middle-class families are struggling, we can’t afford these anti-worker laws. Studies show that in right-to-work states, like Mississippi and Indiana, workers earn $5,000 less a year. Six of the 10 states with the highest unemployment have these anti-worker policies.

The right-to-work proposal in New Mexico is a distraction that divides New Mexicans. The Legislature shouldn’t waste time on this issue. Instead, our leaders should be trying to improve the economy, create jobs and equip our schools with the tools to prepare our children for 21^st century jobs.

Click Here To Learn More Facts About RTW

Right-to-work Legislation Matters to Working Families

By Congressmen Tom Udall, Martin Heinrich, Ben Ray Lujan and Michelle Lujan Grisham | Feb 7^th, 2015

As the national economy shows signs of real improvement, New Mexico’s recovery has been challenging and slow. Working families want to know when we will see more jobs, higher salaries and access to quality education at every level. The state Legislature has an opportunity to put New Mexico in a position to provide that economic security and rebuild the middle class.

Unfortunately, the first bill to gain traction at the Roundhouse is a divisive plan backed by out-of-state political operatives designed to divide working families. The so-called Right-to-Work plan championed by special interests would do more harm than good. Consider these consequences:

• In states with similar anti-worker laws, workers earn, on average, $5,000 less each year than their counterparts in competing states.

• Six in 10 states with the highest unemployment rates have these anti-worker laws.

• Twelve of the 14 states with the worst pay gap between men and women are anti-worker states.

• Workers in states with these anti-worker laws earn fewer benefits.

• Worker safety suffers in these anti-worker states where the rate of deaths on the job is 54.4 percent higher.

The Legislature’s Jobs Council has produced bipartisan ideas to create jobs and help rebuild New Mexico’s economy. Democrats and Republicans got together with business and labor leaders, local and state officials and economic developers who endorsed these ideas.

So it is disheartening to see the new House Republican leadership using its new found power to focus on legislation that would hurt working families. And it’s disappointing to see voices of opposition silenced during committee debate on this issue.

We have opposed anti-worker policies like these at the federal level because unions have long provided benefits for all workers, regardless of membership, by fighting for benefits many now take for granted such as overtime, workplace safety and paid leave.

Legitimate studies are proving that anti-worker laws would weaken New Mexico’s already struggling middle class. Employees with unions at their backs are able to help raise the bar on pay and benefits for all workers in every industry. Anti-worker laws diminish that power. That’s why working families in New Mexico have stood strong against such policies every time outsider special interest groups have tried to force them on us.

The fact of the matter is that people are already free to join a union or not — that’s the law.

When corporate-backed special interest groups tell people to drop their union memberships, working people suffer the consequences. Non-union workers lose the guarantee that they will be heard when it comes to working conditions, benefits and wages. Working men and women in New Mexico know that real employee freedom means having a voice in the workplace.

The New Mexico Legislature has a history of standing up for working families. We urge state lawmakers to focus on growing our economy, creating well-paying 21st century jobs, investing in our schools and strengthening our middle class. There’s so much good that can be done for our state, let’s focus the effort where it will really count by putting New Mexico’s working families first.

U.S. Senators Tom Udall and Martin Heinrich are Democratic senators from New Mexico. U.S. Reps. Ben Ray Luján represents the 3rd Congressional District and Michelle Lujan Grisham, the 1st, in the House of Representatives.