President's Perspective, October 2009: In FY 2009, Chapter 293 continued to demonstrate its value as your exclusive representative with a steady stream of successes. Here are just a few for your consideration now that the year is over:

• The Circuit Court of Appeals for the District of Columbia affirmed the Union’s arbitration victory in the 2002 within grade increase case, which will lead to the payment of over ten million dollars in back pay and interest to hundreds of affected employees.

• Hundreds of SEC employees received payments totaling $2.7 million in damages, plus millions more in salary increases, under an unprecedented settlement of national Merit Pay arbitrations negotiated by the Union.

• The Union successfully negotiated the elimination of caps on salaries at the tops of grades, allowing for raises rather than cash payments of merit pay.

• The Union successfully lobbied for a 3.9% federal pay raise for 2009, a full percentage point higher than the raise recommended by the administration.

• The Union successfully negotiated an additional 1.125% raise for employees to occur in January 2010, in addition to the 1.5% raise provided in August 2009.

• The Union recommended, and the SEC is now implementing, the elimination of branch chiefs in the Division of Enforcement to reduce bureaucracy, increase investigatory personnel and empower front line staff.

• The Union successfully negotiated the career ladder promotions to Grade 14 of approximately 100 Corp Fin employees.

• The Union successfully lobbied on behalf of SEC employees in countless meetings on Capitol Hill related to financial regulatory reform, recommending increased resources and authority for the SEC, the creation of a council of regulators, including the SEC, for market risk, and arguing against cutbacks in our authority, merger with other agencies or elimination of the SEC.

• The Union defended SEC employees on the Hill and in the press after former SEC Chairman Chris Cox publicly abdicated responsibility for the Madoff scandal.

• The Union negotiated a groundbreaking Diversity Initiatives Agreement with the SEC, requiring an independent analysis of the barriers to promotion at the agency, the creation of a new diversity council with Union participation, 360 degree review of managers and other provisions.

• The Union negotiated a new Domestic Partner Benefits Program.

• The Union successfully urged the SEC to increase its maximum monthly Public Transit Subsidies from $110 to $230.

• The Union launched a new Chapter 293 website, substantially improving communications with its members and the public.

• The Union added hundreds of new members.

Thank you for your continued support of NTEU Chapter 293.

by Chapter 293 President Greg Gilman