New York City union membership brings many additional benefits beyond contracts, raises and benefits negotiations – this goes far beyond contracts, raises and benefits negotiations alone! Membership also means accessing free legal services, health and educational classes, financial counseling services, student loan debt relief assistance as well as job training assistance – benefits only available when eligible members fill out a DC37 Health & Security Benefits Enrollment Form and enroll themselves into membership.
District Council 37 adopted the DC37 Annuity Fund in 1999 as a defined contribution employee retirement plan intended solely for employee benefit and intended to meet tax qualification under sections 401(a) and 501(a) of the Internal Revenue Code as a governmental retirement plan.
Individual accounts that have established recurring annuities with the Annuity Fund have seen much greater earnings than would have been possible had they relied solely on the lump sum of $522 that each local received in 1999. Members of Sewage Treatment Workers and Sr. STPs Local 1320 who have invested since its inception will likely collect over $25,000 when they retire this year if their beneficiary designations remain up-to-date in the Fund Office.