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Motion to Modify & Freeze CDTOA Return-of-dues Program
I. Findings - The CDTOA Board of Directors and Membership hereby finds that the program of returning dues to members upon their death (“The program”) is an unfunded liability that represents an ongoing and unsustainable drain upon the resources of the Association.
The Board further finds that for fiscal year 2010-2011, the program will result in the payment of over $50,000 in claims, the equivalent cost of at least one full-time employee.
The Board further finds that the costs of continuing this program will continue to increase each fiscal year unless the program is modified to limit the exposure of the Association.
II. Board Action - Effective immediately (11-13-2010), the program of CDTOA returning dues upon death is hereby amended as follows:
- No new members shall be admitted to the program.
- All current members in good standing that are currently eligible for the program will stop accruing benefits under the program.
- The accrued benefits of current members shall be frozen, and those members shall be entitled to their current accrued balance upon death, provided they remain in good standing until their death and otherwise continue to meet the requirements of eligibility for the program between now and the time of death. Nothing in this section shall be construed to alter the current annual reduction of an accrued balance commencing upon age 71, and that annual reduction shall continue in effect.
- The schedule for payment of benefits shall be modified as follows:
• Payments for all benefits and program liabilities in a fiscal year shall be made no earlier than 30 days after the conclusion of the fiscal year in which the program liabilities occurred.
• Commencing in fiscal year 2011-2012, and for all fiscal years thereafter, the total payment for all benefits and program liabilities paid in a single fiscal year shall not exceed $30,000. If the total for all benefits and program liabilities in any single fiscal year exceeds $30,000, the benefits shall be paid out proportionally to all eligible beneficiaries, in a total amount not to exceed $30,000, after which their benefits shall be deemed paid in full. For fiscal year 2010-2011, the total payment for all benefits and program liabilities paid after November 13, 2010, the total payment for benefits and program liabilities paid for the remainder of the 2010-2011 fiscal year shall not exceed $20,000. If the total for all benefits and program liabilities incurred between November 13, 2010 and the end of the 2010-2011 fiscal year exceeds $20,000, the benefits shall be paid out proportionally to all eligible beneficiaries, in a total amount not to exceed $2,000, after which their benefits shall be deemed paid in full.
- The Executive Committee of the Association shall have the power to review the program annually and make any changes to the program in order to ensure the financial stability and viability of the Association.
Motion was voted on and unanimously approved by all board and attending members on 11-13-2010
Dues Reduction Benefits Clarification
To qualify for reduced dues you must meet one or all of the following:
- Not be driving under your CA# or Motor Carrier permit #.
- Truck needs to be registered as non-operational w/DMV.
- Have your truck listed for sale.
You can’t be driving under your permit or motor carrier # at all, not even once a month. You can still drive for another company under their motor carrier permit # or CA # and you can keep your trucking license.
*Update Listed - June 21, 2011 |
Return-of-Dues Program is Frozen 
