Teamsters Local 727 members working for the Metropolitan Pier and Exposition Authority (MPEA) have joined the union’s pension fund after ratifying a contract extension.
MPEA Security/Fire Safety members came into the Local 727 Pension Fund and Health and Welfare Fund effective January 1, 2012. The members also will receive 3 percent raises retroactive to July 1, when their previous contract expired.
“The extension allows us to get these members quickly enrolled in our top-notch pension and health funds as we start the new year,” said John Coli Jr., president of Local 727. “The Local 727 Pension Fund is one of healthiest in the country and is funded comfortably in the green zone. We are proud to be able to secure such huge benefit improvements for our members and their families.”
MPEA Receiving and MPEA Traffic members also ratified contract extensions as union representatives continue to negotiate with management on new agreements. All three extensions expire January 31.
“The union is working tirelessly to finalize long-term agreements, and we are making steady progress,” Coli said. “We are confident we will have strong new contracts in place by the end of the month.”