Business Manager's Report 2024
As we reflect on the recent elections, it is clear that not every outcome aligns with our hopes or expectations. It is completely normal to feel a sense of disappointment and frustration during times like these. The path of organized labor has never been easy, and we must acknowledge the challenges that come our way.
So, what is our next step? We rise up, brush ourselves off and re-engage with renewed determination. It is essential to learn from our past experiences and commit ourselves to fighting even harder. Nothing has ever been handed to organized labor; we’ve fought tirelessly for every victory we have achieved together.
This is our moment to unite and strengthen our resolve. Let this setback fuel our passion and remind us that organized labor is unstoppable. We may face challenges, but we will never be defeated. Each time we are knocked down, we rise stronger than before.
On a positive note, we celebrate significant successes in our local elections in DuPage County. We secured victories in all six county board seats, three circuit court judges, three appellate court judges, and nearly all other candidates endorsed by Local 701. Additionally, we have made strides in many federal and state races. Moving forward, Local 701 remains committed to collaborating with our state and local elected officials to safeguard workers’ rights in Illinois. Together, we will continue to advocate for our collective strength and resilience.
As we transition into the holiday season, now is the perfect time to reflect on the remarkable achievements that we have experienced in Local 701 in the past year. With strong working hours, and solid stock market returns, the combined assets of our Pension, Annuity, and Health & Welfare Funds are approaching $1 billion. This is an impressive milestone.
As of January 1, 2024, 701 Members now have the option of making additional contributions to their annuities with the elective deferral program through Empower. Participating in this program can lead to greater financial security and peace of mind as members plan for retirement.
The continued success and utilization of the Union Wellness Clinic and Union Eye Clinic have again this year saved the Health & Welfare Fund over $1 million. Our Members Assistance Program (MAP) has made great strides in addressing mental health challenges. This is crucial and vital care to help contribute to member health. The continued success of our organizing efforts, along with our apprenticeship which is also commendable, are ensuring a strong future workforce. It is inspiring to see such a commitment to union values and member support.
Thank you for sharing in these highlights, they truly reflect the unity, dedication, and strength of our Local. On behalf of the Officers and Staff of IBEW Local 701, I would like to wish you and your families a joyful and prosperous holiday season.
In Solidarity, Anthony Giunti
Business Manager / Financial Secretary IBEW Local Union 701