401(k)

ALL for ONE and ONE for ALL!!!!!!!

WE ARE THE UNION!

^Click the ^Employee Free Choice Act^ to sign the petition^

GET ON THE "U-TRAIN" TODAY! Foxwoods/MGM Voted in the Union 1289 - 852 and NOW HAVE A SIGNED CONTRACT as UAW Local 2121! Caesars Palace Dealers Voted in the Union 380-128! MGM Grand Detroit Dealers - have a UNION contract! Motor City Casino Dealers - have a UNION contract! Greektown Casino Dealers - have a UNION contract! Tropicana AC Voted in Union 626-157! Bally's AC Voted in Union 628-255! Caesars AC Voted in Union 572-128! Trump Plaza Voted in Union 324-149! The Wynn Voted in Union 444-149! Casino Aztar Indiana Voted in Union 106-59!

This page is part of the Caesars Palace Dealers "Archives". These are the original pages used to organize the Dealers of Caesars Palace.

This Page is dedicated to our 401(k) and/or Pension

Here we will put to rest the lies and rumors that are being spread amongst us.

QUESTION: If we vote for the Union, will we lose our 401(k) now or anytime in the future?

ANSWER: We would ONLY lose our 401(k) IF we negotiated it away, PERIOD. And even then, we would keep ALL funds we currently have until we collect them at retirement. Otherwise, WE WILL NOT LOSE OUR 401(k)! As soon as we vote the Union in, everything will stay "status quo". That is FEDERAL LAW. Our employer can not make ANY changes to our 401(k) plan while we are in negotiations. That is FEDERAL LAW. Please remember, once we are Union, we are covered by the National Labor Relations Act (NLRA). The NLRA outlines that no "unilateral changes" can be made in our working conditions or benefits or wages after we vote the Union in and are negotiating a contract. FEDERAL LAW.

QUESTION: Why would we negotiate away our 401(k)?

ANSWER: The ONLY reason we would consider negotiating our 401(k) is because we would be choosing another retirement plan, such as a pension. But because Local 721 is a new Local (keep in mind the TWU International does NOT dictate how we run our Local and what we negotiate in or out of our contracts) we will not have a large enough membership at this time to make a pension feasible anyway. So, we WOULDN'T negotiate away our 401(k). And if the day comes when the Union Members are considering a pension, ALL the money you currently have in your 401(k) REMAINS YOUR MONEY, you DO NOT lose it nor ever have to give back the company match if you are fully vested.

Part of belonging to a Union and the benefit it provides is a secure retirement fund. There are even instances where some Unions have BOTH a 401(k) AND a pension.

Also consider this, WITHOUT a Union, the company can cancel any retirement fund we currently have. There is 100% more risk with that happening than if we are in a Union and have our retirement secured by a Collective Bargaining Agreement. Also realize, the company has ALREADY taken away from our 401(k) benefit by reducing the company match (some of you may not have been here long enough to know that, because you have gotten what you have today. But it WAS better just a few years ago). They did that WITHOUT a Union. If we had a Union back then, our 401(k) would still be at least what it was then. What is to prevent them for doing away with it altogether? THE UNION!

We know that in the "Wike letter" they mentioned about us possibly "risking" our 401(k). Remember this, it will be Dealers at the negotiating table and it will be their retirement as well. In addition, the ONLY way we get a contract, even after our employer has agreed to the terms, is ONLY if 51% of the membership affected by the contract VOTES IT IN. So, IF there is no retirement fund/option in the contract, will you vote "yes" for it? We won't!

WITH A UNION WE CAN NEGOTIATE BETTER RETIREMENT BENEFITS!

For More Information Please Contact Us At:

email: TWULocal721.org

Call: Las Vegas Dealers Local 721 at: 702-476-0648

Visit: 2770 S. Maryland Parkway, Suite 510

Updated: April 21, 2010