Pacific Maritime Association

$0 $500 $1,000 $1,500 $2,000 $2,500 02/03 03/04 04/05 05/06 06/07 07/08 08/09 09/10 10/11 11/12 12/13 13/14 14/15 15/16 16/17 17/18 18/19 19/20 20/21 21/22 22/23 Indemnity Plan Indemnity Projected Trend Total Welfare Projected Trend HMO Plans All Other ILWU-PMA Actual vs. Projected Total Welfare Costs (Millions) A review of annual earnings, found on pg. 61, shows that full-time registered workers (those paid 2,000 hours or more) earned, on average in 2023, nearly $233,000 per year. For longshore registrants, the average was $218,231. For clerks, it was $235,908. And for foremen, it was $331,668. Unlike most workers, the wages earned by ILWU members are not solely determined by the basic longshore rate of $52.85 per hour. More than 80 percent of all work includes skill bonuses ranging from $2.40 to $5.80 per hour, or is paid at a percentage over the basic longshore rate. Mechanics are paid 25% - 35% over the basic longshore rate, while Foremen/Walking Bosses are paid 40% over the basic longshore rate. Evening and nighttime work – which totals nearly 38 percent of all hours paid – is paid at rates of $70 to $93 per hour, not including overtime. Overtime work, including weekends and holidays, is paid at rates of $79 to $105 per hour and accounts for 35 percent of all hours paid. The effective average rate for all hours paid is more than $72 per hour. Refer to pg. 62 for more information. How does $52.85 add up to $233,000 a year? Flattening the Curve on Total Welfare Costs Total welfare costs have remained below the projected trend each year, with the curve flattening out due to many factors, including intensive focus on management and oversight to reduce fraud and abuse. Average annual earnings for full-time registered workers Longshore registrants $ 218k Clerks $ 235k Foremen $ 331k Full-time registered workers $ 233k ILWU-PMA Welfare Plan Benefits Costs per Active Registrant Fiscal Years 2013-2023 Total Welfare Plan benefits costs—for the active registered work force and dependents and for retirees and covered dependents—for each fiscal year are divided by the count of active registrants at the end of the previous payroll year (midpoint of the fiscal year). For example, costs for 2022/2023 are divided by the count of active registrants at the end of 2022. $0 $10,000 $20,000 $30,000 Benets Costs per Registrant $40,000 $50,000 $60,000 $10.0 $9.0 $8.0 $7.0 $6.0 $5.0 $4.0 $3.0 $2.0 $1.0 $0.0 140% 120% 100% 80% 60% 40% 20% 7/1/17 1/1/18 7/1/18 1/1/19 7/1/19 1/1/20 7/1/20 1/1/21 7/1/21 1/1/22 7/1/22 1/1/23 7/1/23 1/1/24 Present Value of Accrued Non-Forfeitable Benets Funding Percentage ILWU-PMA Pension Plan Funding Percentage & Present Value of Accrued Non-Forfeitable Benefits Fully Funded Pension Plan The industry pension plan – the ILWU-PMA Pension Plan – is world-class, and has seen major upgrades since the seminal technology agreement of 2002. Since 2014, asset growth outpaced liabilities and funding percentage improved from 70% to over 100%, even with a nearly 20% increase in benefit levels. The 2023 maximum yearly benefit is $95,460. At the end of calendar year 2023, the Plan paid $37.9 million per month to 9,234 benefit recipients. As of 2019, the Pension Plan became fully funded. The Plan is non-contributory for the participants and is completely funded by employer contributions. Refer to pg. 41 for more information. PACIFIC MARITIME ASSOCIATION 19 2 0 2 3 | A Y E A R I N R E V I E W

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