In the past, WMATA and this Board, Coffman and Cantanya in particular, cost WMATAs none reps pension plan roughly $200,000,000 for their dereliction of duties as fiduciaries when they didn't select an insurance annuities firm as advised by the New England Pension Consultant Group, Cantanya and Coffman were later removed as WMATA pension trustees, at the time the plan was funded 140%.
For years, the Authority has made terrible decisions not only about safety but also about funding. WMATA chose to pay LTD benefits (long term disability payments) out of the pension plan costing millions of dollars to the plan. The Authority also took a pension holiday for 8 years in the 689 pension plan as the plan was funded 125% taking the profits but failing to make contributions to the plan each of those years.
As a common practice, this Board has rubber stamped WMATAs failed policies, and you have the blood of failing the riders and Local 689 members on your hands. Mr. Chairman this is your second stint on the board and the only thing that has changed is you endorsing your general manager to take Metro in the wrong direction.
Stop blaming the dedicated hardworking employees for your commitment to failed policies as the employees are the only functioning spoke in this wheel. Back off of the benefits package that is earned by these employees of this workforce and DO YOUR JOB. Perhaps you should redirect your attention to those who benefit the most from this transit system. the developers, builders, the new Audi Field and the Verizon Center, MAKE THEM PAY their share.