labor lawAdivision of labor law center

The U.S. Department of Labor just released  a final rule that improves financial reporting, providing union members with more complete information regarding union trusts.

The unstated subtext here is that some union trusts have been mismanaged, allowing unethical union leaders to strip funds, while concealing their actions from rank and file members.

The new union trust reporting rule, which goes into effect on January 1, 2009, requires unions  to annually file Form T-1.  The rule is issued under the authority of the Labor-Management Reporting and Disclosure Act of 1959 or LMRDA. One of the goals of the LMRDA is to provide meaningful information about union financias and expenditures.

According to the U.S. Department of Labor, not all (more…)