IAPE Board Meets Saturday

Your IAPE Board of Directors will hold its semi-annual meeting via Zoom this Saturday, Sept. 18. The September meeting of the IAPE Board sets budget and spending priorities for the union for the next fiscal year, which begins on Oct. 1. IAPE Directors will consider budget proposals tied to IAPE plans for 2022 contract negotiations with Dow Jones, which will kick off in May of next year.

Members who are interested in attending should register via our website Events Page. Start time for Saturday’s meeting is 9:30 a.m. EDT; business should be concluded by 5:00 p.m.

If you’re not able to join us, but would still like to submit comments for the IAPE Board to consider, please contact your director or send a note to union@iape1096.org.

Steward 101, September 22
Interested in becoming an IAPE steward to advocate for your fellow members? While you’re browsing the IAPE Events page, please feel free to register for our next Steward 101 session scheduled for Wednesday, Sept. 22. In this class, we’ll cover the role and rights of a steward as well as the best practices to properly represent and empower your fellow members.

Lump Sum Payments -- Yes, They Were a Little Larger Than Expected
If you thought the lump sum payment you received last month was slightly larger than expected, you were right.

The negotiated target lump sum, originally set at 0.5% of pay as of June 30, was reduced to 0.25% as a result of the “upside protection” increase in July 1 pay raises. However, Article IV of the IAPE contract provides a formula for calculating our lump-sum payments:

“The actual lump sum payment will track the funding level of the Company’s management bonus (“AIP”) plan, as determined by the Company, from 0% to 200% funded. For example, funding of the AIP at 90% would result in a lump sum of .45%. Funding of the AIP at 110% would result in a lump sum of .55%.”

This year, the Dow Jones management bonus was funded at a whopping 170%. As a result, that lump sum payment you received was paid at 0.425% of your salary.