If the truth is that unions ran this health fund into the ground because of bad management or dishonesty. The facts should be known and taxpayers should not be asked to bail out a union ...or management...out of corruption.
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"The parties are at odds over the mechanics union's health fund, which is in dire financial shape. The union wants greater contributions from the MTA to cope with soaring medical costs. The MTA pays nearly $17 million every year into the fund, which is administered by the union and pays for the medical coverage of 2,000 employees and retirees.
The MTA hasn't increased its contribution to the fund in more than a decade and rising medical costs have forced the union to spend fund reserves to keep up, Silver said. 'They were waiting for us to run bone dry,' he said.
The transit agency accuses the union of mismanaging the health trust fund and cites an independent audit that found the union wasted millions of dollars.
In its latest offer, the MTA said it would give the union money to keep the health trust fund from going bankrupt but asked for temporary control to restore it to financial health.
'Union leaders basically ran the trust fund into the ground and now they want the taxpayers to bail them out,' MTA CEO Roger Snoble said in a statement."
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