NYC Tax Preparation Assistance Available

March 18, 2017  
By Dr. Leonard H. Golubchick

New York, NY -  Department of Consumer Affairs (DCA) Commissioner Lorelei Salas reminds New Yorkers that there is just a little over a month left to file taxes before the April 18 deadline. Commissioner Salas encourages New Yorkers who earned $64,000 or less in 2016 to file for free, using NYC Free Tax Prep available at more than 200 sites citywide or online.

Proper Tax Reporting for Labor Unions, Part Three, 1099 Forms

March 14, 2017 
By Salvatore J. Armao, CPA/PFS, CFP, CFE, CGMA

This is the third in a series on proper tax reporting for labor unions. As tax time nears, labor unions need to know about circumstances in which they may make common errors in tax reporting. This article will focus on 1099 forms.

Proper Tax Reporting for Labor Unions, Part Two, Reimbursed Employee Expenses

February 17, 2017 
By Salvatore J. Armao, CPA/PFS, CFP, CFE, CGMA

This is the second in a series of articles on proper tax reporting for labor unions. It is imperative that labor unions engage in proper tax reporting, especially as tax time approaches. This article focuses on Reimbursed Employee Expenses.

Proper Tax Reporting for Labor Unions

January 16, 2017 
By Salvatore J. Armao, CPA/PFS, CFP, CFE, CGMA

As tax time approaches, it becomes imperative that labor unions become aware of ways in which they may be missing the boat on proper tax reporting. To aid in their efforts, this will be the first in a series of articles on common areas of error. This article will focus on IRS and NYS emphasis on labor union audits regarding employer provided vehicles.

Wells Fargo Failure & Dodd-Frank’s Failure

January 3, 2017 
By Stephanie West

Washington, DC - Wells Fargo Bank’s third failure to produce a credible "living will" by which it could fail without a large bailout, shows as well, the failure of the Dodd-Frank Act to end too-big-to-fail Wall Street banking.

NYC Comptroller's Annual Financial Report

December 26, 2016 
By Stephanie West

New York, NY – New York City Comptroller Scott M. Stringer has released the Popular Annual Financial Report (PAFR) for Fiscal Year 2016, which breaks down for the public the City’s revenues, expenses, budget, and capital projects.

California Unions Protest Dakota Pipeline

November 22, 2016  
By Steven Wishnia and Neal Tepel

Oakland, CA - Hundreds of union members and supporters protested outside a downtown Wells Fargo branch Nov. 10, calling on the bank to pull its investments out of the Dakota Access Pipeline under construction in North Dakota.

Fight for $15 Continues

September 28, 2016 
By Tara Jessup 

New York, NY — Thousands of workers, from the New York region and beyond, protested outside the first presidential debate at Hofstra University Monday evening demanding $15 and union rights.

NYS Budget Supports Those Fallen Behind

April 9, 2016
By Teamsters Joint Council 16 President George Miranda

New York, NY – "It’s often said that a society can be judged by how it treats the least fortunate and those who have fallen behind. Governor Cuomo is leading the way and demonstrating that New York always rises to the occasion by raising the minimum wage and enacting paid family leave.

Cutting Pension Benefits: MPRA and the Central States Pension Plan

April 6, 2016
By Tim Connor, FSA, EA, MAAA,
Charles Clark,
ASA, MAAA, EA and Paul R. Bonsee

Another of the five key plan issues for 2016 facing multiemployer plan sponsors, administrators and fiduciaries is the impact of MPRA. There are many important details, but here are the highlights and some of the key issues.

Pension Trust Fund Asset Performance: A Key 2016 Taft-Hartley Plan Issue

February 25, 2016
By Timothy L. Connor, FSA, EA, MAAA and Paul R. Bonsee

In the last issue of this newsletter, we mentioned five key plan issues that are facing multiemployer plan sponsors, administrators and fiduciaries. Number one on that list was the impact of plan asset performance during 2015 and the direction of the financial markets in 2016. Markets were volatile in 2015, and that trend is continuing into the New Year. This is a signal to trustees that the impact of any underperformance on the projected zone status of their plan has to be understood and should be measured often.

Saving for Your Future: Questions to Ask Yourself Now

Febraury 23, 2016
By Michael Fina, Radius Bank, Union Relationship Manager

(FDIC Consumer News)

Finding money to put into savings can seem difficult, but there are some strategies that can make it easier. Start by asking yourself these questions.

Do I have savings goals? Knowing how much you want to save and why can help you stick to a plan. For example, if you have a young child, ask yourself if you plan to help pay for college. Research indicates that children who have a college savings fund are more likely to go to college than those who don't. There are a number of programs available to help save specifically for college-related expenses.

Five Pension Plan Issues for Trustees and Administrators to Consider in 2016

February 9, 2016
By Paul R. Bonsee 

Multiemployer plan sponsors, administrators, and fiduciaries will continue to be challenged in 2016 as they have been in recent years. Market volatility, the interest rate environment, labor markets, and regulatory and legislative changes are just some of the headwinds that they face on behalf of their members. However, with challenges come opportunities to stabilize and improve the position of many multiemployer plans.

For 2016 ABC Is Not As Easy As 123

January 28, 2016
By Salvatore J. Armao, CPA/PFS, CFP, CFE, CGMA

With the New Year also come some more compliance requirements from the Affordable Care Act (ACA).

With the New Year also come some more compliance requirements from the Affordable Care Act (ACA). New filing requirements and new reporting forms will be required to be filed with IRS by certain employers, insurance companies and certain benefit funds including Taft-Hartley multiemployer health and welfare benefit funds.

Reid, Pelosi Eye Repeal of Obamacare ‘Cadillac Tax’

November 10, 2015
By Steven Wishnia and Neal Tepel

Senate Minority Leader Harry Reid (D-Nev.) and House Minority Leader Nancy Pelosi (D-Calif.) are looking for ways to repeal the impending 40% excise tax on health-insurance plans deemed too extravagant by the Affordable Care Act of 2010.

Koch Brothers Network Funding Friedrichs Case

November 6, 2015
By Steve Wishnia and Neal Tepel

This term, the U.S. Supreme Court will rule on Friedrichs v. California Teachers Association, a lawsuit intended to decimate public-sector unions by eliminating their right to collect “fair-share fees” and possibly even dues from people they are required to represent. 

Additional information