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What is the NTEU?

What is the NTEU?. The National Treasury Employees Union represents over 150,000 federal employees, including the non-management staff at the SEC, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Consumer Financial Protection Bureau.

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What is the NTEU?

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  1. What is the NTEU? The National Treasury Employees Union represents over 150,000 federal employees, including the non-management staff at the SEC, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Consumer Financial Protection Bureau.

  2. NTEU Chapter 293 • NTEU is divided up into Chapters. All non-management employees of the SEC are represented by NTEU Chapter 293. • Greg Gilman, a senior enforcement attorney in the Boston Regional Office is the Chapter President. • The union’s website address is www.secunion.org.

  3. secunion.org Chapter 293’s website has won many awards and it received over 100,000 visits in the past year.

  4. A Strong Majority of SEC Employees are Union Members All non-management employees of the SEC are members of the bargaining unit. However, to become a union member, you must agree to pay the dues that are needed to fund the union’s work on behalf of SEC employees. A strong majority of your fellow employees have joined the Union and we hope you will, too.

  5. Union Membership is a Good Investment As a federal employee, everything about your compensation and benefits is determined by either the folks who run the federal government or the folks who run the SEC. NTEU can help you on both fronts.

  6. Legislative Representation The SEC cannot Lobby Congress but NTEU can. Member Dues Support NTEU’s Legislative Department…

  7. NTEU’s Legislative Department Works with Both Republican and Democratic Members of Congress Every Year to Secure an SEC Budget that will Support… • More Hiring; • Better Raises; • Better Benefits; • More Resources to Advance Our Mission

  8. From 2001, when NTEU began representing SEC employees, to 2010, when a 3 year national pay freeze began, NTEU was able to secure annual government-wide pay raises that totaled 8.9% more than what was proposed.

  9. It Adds Up Over Time… If you made $50,000 in 2001, NTEU’s hard work raised your earnings by $31,500 over the next nine years and increased your salary by about $5,600 PER YEAR.

  10. It Adds Up Over Time… If you made $125,000 in 2001, NTEU’s hard work raised your earnings by $79,500 over the next nine years and increased your salary by about $14,000 PER YEAR.

  11. The Pay Parity Law & SEC Specific Pay Negotiations NTEU’s lobbying efforts helped pass the 2002 SEC Pay Parity Law, which gives the Union the power to collectively bargain pay and other compensation items at the SEC. Through these negotiations, the Union has secured salaries at the SEC that are up to 40% higher than those of the vast majority of federal employees whose pay is determined by the General Schedule (“GS”).

  12. SEC Pay Negotiations During the National Pay Freeze… • From 2011 through 2013, government-wide pay increases were prohibited but collectively bargained merit pay raises were permitted. • From January 2010 to April 2014, NTEU negotiated SEC-specific merit pay increases totaling approximately 11.5%, compounded. • These raises permanently increased the pay caps for each grade, thus boosting each employee’s top potential salary and pension.

  13. NTEU-Won SEC Merit Pay Increases From 2010 to 2014: It Adds Up If you made $75,000 in 2010, NTEU’s hard work added over $23,064 to your earnings over the next four years and increased your salary by about $8,700 PER YEAR.

  14. NTEU-Won SEC Merit Pay Increases From 2010 to 2014: It Adds Up If you made $175,000 in 2010, NTEU’s hard work added over $51,000 to your earnings over the next four years, and increased your salary by about $20,144 PER YEAR.

  15. Grade SEC GS Employee INCREASE 16 $215,503 $157,100 (MAX) $ 58,403 14 $188,709 $138,136 $ 50,573 13 $164,347 $116,901 $ 47,446 12 $138,211 $ 98,305 $ 39,906 11 $115,311 $ 82,019 $ 33,292 10 $ 97,571 $ 74,654 $ 22,917 9 $ 88,599 $ 67,787 $ 20,812 8 $ 79,056 $ 61,377 $ 17,679 7 $ 71,386 $ 55,421 $ 15,965 Our Salaries (HQ) vs. GS Employees Based On the Maximum Step in the Grade

  16. A Few Other Examples of Our Work in Congress… • Blocked a proposal to increase from 4.4% to 5.5% the percent of pay that employees hired after January 1, 2014 would have to contribute toward their pension benefit – effectively a 1.1% pay cut. • Removed from the Stock Act a provision to make publicly available non-supervisory employees’ financial holdings disclosures. • Helped pass a measure that counts unused sick leave towards the pension benefit. • Fighting for Paid Parental Leave.

  17. And a Few Other Examples of Our Work in Congress… Opposing proposals to: • stop all federal government hiring; • cut the federal workforce by 10%; • extend the pay freeze through 2015; • hike pension contributions to 6.35% of pay while reducing pension benefits – effectively a 1.95% pay cut for employees contributing 4.4.% of their pay to their pension benefit.

  18. A Few Examples of Our Work at SEC… • Additional agency contributions to health insurance premiums (a $25 bi-weekly boost for individual coverage and a $50 bi-weekly increase for family plans). • A supplemental 1% match on retirement savings that will soon increase to 3% (effectively increasing the TSP match from 5% to 8%).

  19. A Few Other Examples of Our Work at SEC… Student Loan Repayment Program that provides up to a $10,000 pre-tax reimbursement per year ($60,000 limit). $13o per month Transit Subsidy that will soon increase to $250. $400 Professional Dues Reimbursement. Free Dental and Vision Plans, the annual premiums on which would be $303 for individuals and $1,015 for families.

  20. A Few More Examples of Our Work at SEC… • Flexible Work Schedules. • Telework. • Credit Hours. • The Option for Part-Time Work. • Free Backup Child Care. • Pre-Tax Parking Benefit Program. • Bicycle Reimbursement Program.

  21. Increased Membership . . . • Enhances Our Legislative Work on Capitol Hill; and • Strengthens our Negotiating Position with the Agency.

  22. Dues Pay You Back… NTEU dues are set on a sliding scale based on grade and salary. A Grade 14 employee earning $200,000 per year would pay dues of $808 per year. However: • Between 2001 & 2009, NTEU’s work on the annual government-wide pay raises increased the salary of an employee making $50k in 2001 by $5,600per year. • Between 2010 & 2014, NTEU negotiated merit pay raises at the SEC increased the salary of an employee making $75k in 2010 by $8,700 per year. • The NTEU-secured professional dues reimbursement is worth up to $400per year.

  23. Dues Pay You Back… • The NTEU-secured extra health insurance premium contribution from the SEC is worth up to $1,300 per year. • The NTEU-secured free vision and dental coverage is worth up to $1,000 per year. • The NTEU-secured transit subsidy is worth up to $3,000per year. • The NTEU-secured student loan reimbursement is worth up to $10,000 pre-tax per year. • For an employee earning $85k, the NTEU-secured 3% supplemental retirement match is worth $2,500 per year.

  24. Questions??

  25. Thank You.

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