Topic: Musicians of San Antonio Sym file labor charges against management
Their contract expires Dec 31st.
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Their contract expires Dec 31st.
"""""The group of donors set to take over operations of the San Antonio symphony has backed out of the deal after discovering a potential $8.9 million pension liability, leaving the future of the orchestra in doubt.""""
PRESS STATEMENT FROM THE MUSICIANS of the SAN ANTONIO SYMPHONY
Over the past 24 hours members of the press have been asking us questions about Bruce
Bugg's statements about the AFM multi-employer pension plan. The Symphony Society
of San Antonio (SSSA) is a party to the national American Federation of Musicians' AFM
Employers' Pension Fund. The AFM-EPF is a multi-employer plan.
Mr. Bugg's statements about the pension plan are false. They are so grossly false we can
only assume the falsity is intentional in order to set up the pension plan and SSSA as
scapegoats for a union-busting power play.
The following are verifiable facts.
1. SSSA has $0.00 (zero) debt to the AFM-EPF. The Symphony's auditors and SSSA
board were 100% correct in reporting no debts payable to the Pension Fund for
2. SSSA will never have to incur any payment to the pension fund other than making
pension contributions on a going forward basis. These payments currently are in the
range of $120,000 per year, a far cry from the alleged multi-millions of dollars of liability
and a fair contribution to ensure that the Symphony's hard-working musicians have a
retirement pension after devoting decades of their lives to the San Antonio community.
3. Mr. Bugg has falsely stated and the press has willingly repeated without
investigation that SSSA has a current $4.5 million liability to the pension fund. This is
wildly false. The pension fund letter identifies a $4.5 billion number for the fund's total
net unfunded vested benefits aggregated of all participating employers nationwide and
all participating employees nationwide. This is not a liability figure of SSSA. This number
is included in the Pension Fund's letter as part of the calculation of a hypothetical estimate
of SSSA's withdrawal liability if SSSA were to withdraw from the pension plan.
4. According to the Pension Fund letter, the current $8.9 million estimate can change
if SSSA were ever to withdraw from the Pension Fund in the future.
5. Neither SMSA nor SSSA has ever proposed to the Union that the Symphony
withdraw from the pension plan.
6. Any withdrawal liability estimate is purely speculative. There is no current liability.
There will never be any withdrawal liability unless the Symphony intends to disrupt its
employees' future pensions by withdrawing from the pension plan. The Symphony's only
obligation is to continue making contributions to the Fund for employees' retirement
7. Any suggestion that SSSA has been or is hiding a pension liability is completely
false. Such suggestion only serves to unfairly and falsely smear the individuals, most of
them highly dedicated to providing world-class orchestral music to the citizens of San
Antonio, who have been involved with the Symphony Society over the past decade.
San Antonio Turns Down A Dark Path by Drew McManus
https://adaptistration.com/2017/12/29/s … -dark-path
Conductor vows January shows will go down.