A significant dynamic of the SEPTA strike that didn't get resolved in contract negotiations was the union's accusation that SEPTA had mismanaged its pension fund. Rather than just making the size of pension contributions a contract issue, the TWU complained about the health of its pension. But the strike ended without SEPTA agreeing to the forensic audit the union had at one point demanded.
It looks like the TWU hasn't forgotten the matter, however. The Philadelphia Weekly reports today that the TWU is considering suing SEPTA:
Local 234, which ended a six-day strike on November 8, has retained the law firm of Kaufman, Coren & Ress, P.C. The issue at hand: Workers want to know what firm the money is being invested with, what the rate of return is and what fees investors are being paid.
“We believe that SEPTA is not properly managing our pension,” Local 234 President Willie Brown says. “Even before the recession it wasn’t funded at proper levels. We want to ensure for future retirees.”
The Weekly says the union's board will meet tomorrow to decide whether to pursue legal action.
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