GST CERVANTES’ MISMANAGEMENT OF IAM GL PENSION PLAN KILLING IAM MEMBERS’ LOCALS, DISTRICTS

Current General Secretary Treasurer (GST), Ms. Dora Cervantes, recently boasted that “she” has increased the IAM General Fund—basically the IAM’s bank account balance—by over 150 percent since she was appointed to the GST position in 2015. Sadly, that’s untrue, and we’ll get to that very soon. Even sadder than deliberately lying to IAM members, is her utter mismanagement of the IAM GL Pension Plan. Her mismanagement, during a time of economic expansion and market growth, is KILLING the finances of IAM members’ locals and districts because they have to pay more of IAM members’ dues to make up for her incompetence. 

At the 2016 Grand Lodge Convention, Dora, in one of the worst financial reports ever given to IAM Grand Lodge delegates in which she rambled about how hard she works, claimed that the IAM GL Pension Plan was “more than 100 percent funded.” This statement was false can be found on page 42 of the convention minutes, which each IAM member has access to (ask your rep for these minutes). The IAM GL Pension Plan is funded by IAM members’ dues, and in 2012, the year that she was appointed to work in the GST’s office, the contribution rate to fund the Plan was 2%. Then, because of Dora’s continued financial negligence to safeguard the Plan, the contribution rate was raised from 2% to 8% in 2015, then to 10% to 16%, and in 2019 it was raised to an unbelievable 30%. Contributions are 15 TIMES more, all paid with IAM members’ dues money! For example, if in 2012 the Plan contribution for John Doe was $1,000, the contribution for the SAME BENEFIT now costs IAM members $15,000! IAM members have to pick up the tab for this. Dora claims she’s putting resources back into districts and locals. Really?

And to add insult to injury, Dora misled our sisters and brothers from Canada and told them that this MASSIVE increase in cost would not affect them because their Plan had different rules because they were from Canada. Well, that turned out to be false and IAM members in the Canadian Territory are also paying through the nose for Dora’s negligence.

These are facts, not misleading memes posted by Dora and IAM staff members directed by her. If Dora was telling the truth to IAM members that the IAM GL Pension Plan was over 100 percent funded, then why would contributions to fund the Plan be raised from 2% to 30% for the same benefit?

​IAM members need a GST that is competent and tells the truth to IAM members. It is very apparent that our current GST is neither competent nor truthful. If elected to the position of IAM GST, I pledge to you to ALWAYS tell the truth and provide competent leadership in the IAM GST’s office. My almost 20 years as a financial officer in the IAM at the district and local level gives me the experience and knowledge to provide the competent services IAM members deserve.  ​