Actuary Incentive Award Task Force Releases Report
SEIU Local 1000 actuaries continue their member activism in advocating for the State’s actuarial staff and set the stage for upcoming contract negotiations.
Following on the successful Actuary Series Consolidation in May 2022, our member-led Task Force issued a joint report with CalHR on incentive pay for the State’s actuarial professionals. Our member actuaries secure State employee retirement benefits, fund State employee health care benefits, and regulate insurance companies to make sure that consumers are protected and the premiums Californians pay for many insurance products (such as life, automobile, homeowners, and workers compensation insurance) are not excessive, inadequate, or discriminatory.
The report recommends the implementation of an incentive award program at State agencies that employ actuaries recognizing that such a program aids in recruiting and retaining employees in the actuary series which is in the State’s and public’s interests. The report also recommends that a credential-based bonus or a differential be introduced to help attract and retain highly qualified candidates into State Civil Service.
The Task Force was comprised of Local 1000 members and state representatives who convened several times over a six-month period for productive conversations on employment market data, salary analysis, and relevant research. The Local 1000 team was led by Stuart Bennett, BU 01 DBUR for DLC 781 and Senior Actuary at CalPERS who noted that “. . . our Local 1000 actuaries continue to build member power in the workplace to shape their working conditions and career goals. We are pleased with the recommendations of the joint report and look forward to actionable proposals during bargaining in the spring”.
Susan Rodriguez, Chair of Bargaining Unit 01 and Task Force member, remarked that “. . . it’s important to our Unit 1 members that our professional expertise and specialized credentials are recognized and rewarded by the State. I look at this progress as the first step to similar initiatives for other Unit 01 job classifications”.
Another member of the task force commented that “. . . this is good step forward for CalHR to confront inconsistencies and inequities in the complex compensation and reward system operating in the State”
Local 1000 is preparing for our Contract Campaign for 2023. Be sure to fill out your bargaining surveys, participate in our bargaining town halls, and making your voice heard. Bargaining success begins with engaging with our Union and membership.