We Must Keep Our Retirement Plan Strong

"Proposed Drop Plan" as an Additional Benefit To MLGW Pension System For ALL MLGW Employees, By Jonnie Dawson                         Elected Pension Board Representative

The Forward Drop Plan had come to Jonnie Dawson’s attention by talking with several Memphis Police and Fire Department Employees. The idea was to carry home a good pension and the lump sum payment, being the highest possible. With much research and investigation by Jonnie Dawson, talking with many MLGW employees, both Bargaining unit and Management, she decided to proposed this "Drop Plan" to the Pension Board as an additional benefit. Also, Jonnie invited Sam Williams "President" of the "Memphis Police Association" to give a presentation of the "Drop Plan" at the MLGW Pension Board Meeting. What this means simply, is an employee will have the "option" of receiving BOTH the 25% lump sum cash-out "AND" the Drop Plan. In many cases this would double the cash value, you would take home at retirement.

After reviewing the presentations, Jonnie Dawson brought all the information to IBEW’s General Membership Meeting, and discussed the positive results of having this "Plan" as an additional benefit. After Rick Thompson, IBEW Business Manager, reviewed and investigated the materials presented by Jonnie Dawson, it was decided that this "Plan" would be presented at a Regular Membership Meeting of the Local Union. The members of IBEW voted "Unanimously" to support the "Forward Drop Plan" as an additional benefit.

Remember, that this proposal is "ZERO" cost to the Pension Plan! And will have "NO" negative effect on present benefits.

Your Pension Board Representatives are as follows: