
By ELEANOR LAISE
Wall Street Journal
Some investors in 401(k) retirement funds who are moving to grab their money are finding they can't.
Even with recent gains in stocks such as Monday's, the months of market turmoil have delivered a blow to some 401(k) participants: freezing their investments in certain plans. In some cases, individual investors can't withdraw money from certain retirement-plan options. In other cases, employers are having trouble getting rid of risky investments in 401(k) plans.
When Ed Dursky was laid off from his job at a manufacturing company in March, he couldn't withdraw $40,000 from his 401(k) retirement account invested in the Principal U.S. Property Separate Account.
That fund, which invests directly in office buildings and other properties, had stopped allowing most investors to make withdrawals last fall as many of its holdings became hard to sell.
Now Mr. Dursky, of Ottumwa, Iowa, is looking for work and losing patience. All he wants, he said, is his money.
"I hate to be whiny, but it is my money," Mr. Dursky said.
The withdrawal restrictions are limiting investment options for plan participants and employers at a key time in the markets. The timing is inconvenient for the number of workers like Mr. Dursky who are laid off and find their savings inaccessible.
Though 401(k) plans revolutionized the retirement-savings landscape by putting investment decisions in the hands of individuals, the restrictions show that plan participants aren't always in the driver's seat.
During the Memorial Day break, the International Brotherhood of Electrical Workers will invite congressional representatives to tour union job-training centers around the country to show them why they are the right choice when it comes to creating a renewable energy work force.
“The IBEW has developed one of the most advanced green training curriculums in the electrical industry and it makes sense that federal and state authorities partner with those who are already doing the work to meet the needs of greening our economy,” said IBEW International President Edwin D. Hill.
From retrofitting buildings to installing wind turbines, new opportunities are opening up in the green energy sector as millions of stimulus dollars are made available for training and investment in the new energy economy.
But the expected rapid growth of those jobs will require tens of thousands of skilled electricians who can safely and professionally install and wire solar panels, wind turbines and biofuel plants, a demand that it is already being met by the IBEW.
The National Joint Apprenticeship and Training Committee – a partnership between the IBEW and union electrical contractors – unveils its Green Jobs Curriculum next month, which collects more than 70 green training lessons the NJATC has been using into one single curriculum.
The comprehensive program, which covers everything from automated building operations to solar photovoltaics, will be woven into the fabric of current IBEW apprenticeship training and will serve as a resource for more experience electricians looking to upgrade their skills in the growing green jobs market.
The annual Postal Workers’ Food Drive is this coming Saturday, May 9th!!!!!
The Whatcom County Postal Workers really need help picking up the food and getting it to the food bank! They need teams of two, one to hop out and grab the food and one to drive. This is a fun opportunity for kids 10 and above as well. The bigger the vehicle, the better but even cars can help.
You will be given clear maps and instructions and will be fed a great lunch when it’s over. It normally only takes 1 ½ to 2 hours and is lots of fun.
They are asking people to meet at the Mount Baker Station (corner of Sunset and Orleans) at 10:30 on Saturday morning. To RSVP please call Pam Hooper at (360) 734-0996. She needs at least two teams or four individuals and is really hoping for help from at least 6 people.
Not only is it lots of fun, it feels good and you’ll get a tasty lunch! Please let everyone you can think of about this great volunteer opportunity. And heck, wear an IBEW shirt while you’re at it. If you don’t have one, let me know.
By Annette Cary, Herald staff writer
Tri-City Herald
The Department of Energy Hanford offices received $1.57 billion Tuesday from the American Reinvestment and Recovery Act to start additional cleanup work.
Having the money in hand will allow work planned with stimulus money to begin.
"This will allow us to initiate a number of projects and allow contractors to begin hiring in the coming days," said Geoff Tyree, DOE spokesman. They'll also be allowed to begin working with subcontractors on the new projects.
DOE expects to give contractors notices to proceed with the work this week, Tyree said.
DOE Hanford work is expected to eventually receive a total of $1.96 billion in federal stimulus money, which is estimated to retain or create about 4,000 Hanford jobs as the money is spent through Sept. 30, 2011.
Contractors who will do the Hanford work have been gathering rsums, interviewing potential workers and making contingent job offers as they waited for the money to be released to Hanford and for DOE to issue notices to proceed.
At a job fair Friday and Saturday, CH2M Hill Plateau Remediation Co. and its subcontractors made contingent offers to about 44 people for professional positions. Many were for the kinds of employees who will be needed to start the work, such as safety engineers, safety specialists, schedulers and industrial hygienists.
In addition, CH2M Hill has about 140 people identified to hire as decontamination and decommissioning workers and nuclear chemical operators.
More hiring will be done after CH2M Hill sifts through the approximately 3,500 rsums it has collected from people eager to work on the stimulus projects, said Dee Millikin, CH2M Hill spokeswoman.
May 30th: Save the date, spread the word
Major rally for national health care reform planned in Seattle
The Washington State Labor Council, along with some of its largest affiliated unions and many other advocates for national health care reform and universal health coverage, will hold a major rally and march on Saturday, May 30 in Seattle calling for "Health Care for All in 2009." Please mark your calendars to save the date, and download, post and distribute the event flyer (also available in black-and-white).
President Barack Obama has put out the call for health care reform in 2009 -- "Health care reform cannot wait, it must not wait and it will not wait another year" -- so reform advocates in Washington state are planning a major march on May 30 in response to that call. It will start at Pratt Park, at 18th Ave. South & Yesler, in Seattle's Central District at 12:30 p.m.
Although there is a developing consensus to move forward on this issue in 2009, the labor movement knows that progressive reforms to not happen because of the good intentions of negotiators in a Washington, D.C. conference room. They happen because a grassroots movement takes to the streets and demands change that works for working people.
Interested in Community Service?
Come join us!
Electrical Workers’ Minority Caucus
A community service organizationIf you want to make a difference in your community through acts of community service, this is the place for you!
Everyone is welcome! This is a chance to have fun, meet great people, and have a positive impact on your community.
Let’s return the union to its rightful place in the community!We all are surrounded by people who need a hand; want to lend one?
The EWMC meets monthly:
3rd Thursday of the month
6:00 at the JATC
For more information call the hall or visit ibew191.com
Want to spend a week for two in Hawaii in October, staying at the Westin on the beach in Maui? We will be offering raffle tickets at the May and June meetings for a free trip to Hawaii. The trip is a result of the ads now running on KOMO, KVI and KPLZ. Fisher broadcasting has offered us a free trip. Local 191 members will also be taking part in the raffle as partners in the advertising campaign.
Here is how it will work:
Come to the general meetings in May and June and fill in a raffle ticket. If you come to both the meetings and you double your chance of a trip to Hawaii. In July we will combine the 46 and 191 tickets and draw a winner.
It’s that simple! Show up at a General Meeting and fill in a ticket and keep your fingers crossed!
Good Luck
Killing Worker Privacy Act with no vote or explanation would taint Legislature
One of the great things about democracy is that eventually -- after all the debate and distractions, all the politics and punditry -- you vote on it.
The folks you elected to represent you in government make their decisions, they stand up and get counted. We, the people, get to see their votes, listen to their explanations and decide if we agree. If we disagree often enough, we might decide that we'll support somebody else to represent us.
That's what democracy is supposed to look like. But what happens in Olympia can look very different. There, you don't necessarily vote on it, even when everyone agrees there are plenty of votes for it to pass. Such is the case of the Worker Privacy Act (SB 5446 and HB 1528), as things stand today.
Look, we're not naive. State Representatives and Senators choose committee and caucus leaders, and these leaders single-handedly kill bills all the time. It's happened to labor-opposed legislation and we sure didn't cry "foul" then, did we?
So what's the difference between those stifled bills and the Worker Privacy Act, you ask?
When a powerful legislative leader unilaterally quashes a bill, that leader is expected to explain his or her actions. Part of being a leader is having the courage of your convictions to defend your actions.
You might kill a bill because you personally oppose it. Then it's your responsibility to stand up and explain why you blocked a vote. If there are consequences, accept them.
By Josh Drobnyk
Los Angeles Times
March 15, 2009
Reporting from Washington — Sen. Arlen Specter has been told by several of his most faithful GOP backers in Pennsylvania that they'll abandon their support if he votes for a union-rights bill working its way through Congress, an ultimatum that carries significance both for the measure and for Specter's reelection next year.
The threat has come in unusually blunt terms at a time when some Republicans in the state are furious at the five-term senator for backing the economic stimulus package. It illustrates the shaky ground Specter finds himself on as he navigates a centrist role in the Senate ahead of a GOP primary in spring 2010.
The Employee Free Choice Act has mobilized business and labor activists into a full-fledged battle on Capitol Hill over whether to make it easier for workers to unionize. The measure would force companies to recognize unions if a majority of employees sign cards to join, in effect eliminating a rule that allows employers to request a secret-ballot election.
Also, it would enable either side to request binding arbitration if they can't come to terms on a contract within 120 days after a union is formed, a provision that labor leaders highlight as a key change in the law because it is now common for lengthy delays -- sometimes lasting several years -- during negotiation.
President Obama has told labor leaders the bill will pass. But with some Senate Democrats still on the fence, both sides are anticipating changes to the legislation before it comes up for a vote.