Look for the Union Label
Higher union dues and a possible sale of their downtown headquarters are on the table in order to cover the costs of the Indiana State Teachers Association long-term disability obligations.
ISTA says it will pay out benefits to more than 600 members enrolled in its now defunct long-term disability insurance fund. The LTD, along with the medical insurance fund, were both the subject of state and federal investigations for running up more than $67 million in debt. Since then National Education Association has stepped in to take over ISTA. The union has since announced it is getting out of providing those services and announced in a memo it would no longer provide those benefits.
Officials say they will work the the NEA to pay those benefits which could cost up to $60 million over the next 20-30 years. ISTA says to cover those costs members could have to pay more (currently membership is $449 a year) it would also have to look at layoffs and selling its Market Street headquarters.
Below is my conversation with ISTA President Nate Schnellenbeger. It’s about five minutes long.
[podcast]http://www.indianabarrister.com/wp-content/uploads/2009/06/nate.mp3[/podcast]
