MADISON, Wis.—TruStage’s new CEO has offered some early insights into one of the first big challenges he faces, a labor dispute with a union representing many of its workers.
Terrance Williams, the first Black CEO in the history of TruStage, the former CUNA Mutual, which was founded in 1935, has been with the company now for several weeks, and has come aboard at the same time the company remains in negotiations with Office and Professional Employees International Union Local 39 expired in February 2022, which represents 450 of its workers who have been without a contract since February 2022.
As CUToday.info reported, the union suspended a strike in May of this year two weeks after a walkout, citing progress in talks, but has indicated it could walk out again.
‘Passion for Industry’
In an interview with the Wisconsin State Journal, Williams said it is his “passion for the industry and TruStage’s mission of making its services accessible to everyone that attracted him to the executive role,” according to the publication.
Williams succeeds Robert Trunzo, who retired.
“I wasn’t looking for a new job,” Williams told the State Journal.
As CUToday.info also reported, prior to joining TruStage, Williams worked as president of protection products and services for insurance company Allstate, where he previously was executive vice president and general manager of sales and distribution.
Williams also spent 20 years with Nationwide and in 2017 and 2018 was named by Forbes as one of “The World’s Most Influential CMOs” and by Savoy Magazine as one of the most influential Black corporate directors in 2021, the State Journal noted.
Goal is to Find ‘Resolution’
When asked about the ongoing labor dispute, Williams cited for the State Journal that TruStage has had an 80-year plus relationship with the union and he said his “goal is for that positive relationship to continue. Our goal is to use every possible avenue to resolve this situation (with) a market competitive resolution.”
The union told the State Journal it has plans to meet with TruStage and a mediator from the nonpartisan Federal Mediation and Conciliation Service on Oct. 24 and in early November.
OPEIU Local 39 union President and Business Manager Kathryn Bartlett-Mulvihill told the news outlet that union employees are “hopeful. Employees are hopeful. We haven’t made much progress at all. It doesn’t have to be this way.”
Williams told the State Journal TruStage has offered the union a contract that includes a “total economic increase of 28% over three years,” made up of “significant” wage increases, an increase in annual bonus incentives and a ratification bonus.
Union Rejects Offer
Earlier this year 90% of the union members rejected TruStage’s proposal, Bartlett-Mulvihill told the State Journal.
“The union since February 2022 has been asking TruStage to stop attempting to eliminate its pension plan for new employees, allow all bargaining unit members — even those who work remotely — access to affordable and quality health care, and extend pay equity reviews to union employees,” the report added. “It has also asked that employee salaries be adjusted for inflation.”
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