Frank Austin ​​has been a member of 393 for 30 years and is currently an HVAC foreman. When he was growing up, Frank would save his money and count it nearly every day. He thought for sure he’d be an accountant, so it’s no surprise that he ended up a Local 393 pension trustee. “I have a passion for pensions,” said Frank. “It’s part of my roots, and I want to make sure our members are financially taken care of in our retirement.”

According to Frank, our union pension is great, but it is not going to replace our working income completely. Whether he’s holding Local 393’s retirement planning seminars, teaching the students down at the training center the rules of our plan, or just casually talking to coworkers at the shop, he advises members to maximize their contributions to all of 393’s retirement programs to supplement our pension retirement.

As 393 members, we are lucky in that we have three retirement plans plus our tax-free ERA (extended reserve account). By utilizing all four, we can enter our golden years on solid financial footing.​​

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“As unionized tradespeople with a self-funded retirement program, we take responsibility for investing in a dignified retirement,” said Wayd La Pearle, Business Agent and Trustee. “In the trades, we wear out our bodies at 55-60; before the federal retirement age and sooner than workers who aren’t putting their flesh and blood on the line. It’s critical that we invest early and often in our plans to have a safety net.”

UA Local 393 members decide how much goes into retirement. After we vote to ratify our master contract, we have a wage allocation vote to decide what goes into wages and what goes into our benefits.

Nancy Ferguson, UA Local 393 Member Advocate, advises all members to maximize our contributions as early as possible in our careers.

“Retirement takes 30-35 years of savings,” said Nancy. “It’s the biggest investment you will ever make – even more than a house. And 393’s programs make it easy.”

The vast majority of non-union workers are solely responsible for saving for their own retirement. Often, they do not earn enough to save, or they do not plan far enough in advance. The result is that many run out of money in retirement. In fact, 7.1 million seniors live in poverty. But with 393’s plans, we can secure our golden years.

“Don’t wait until you have gray hair to start thinking about retirement,” said Frank Austin. “The earlier you start saving, the longer your money has time to gain interest and snowball. It’s not magic, it’s just math. With proper planning, you can retire as soon as you are eligible and when you want to, and not be forced to wait.”​