(The Associated Press circulated the following article on September 28.)
WASHINGTON — Labor unions now have specific guidelines for reporting financial information about their trust funds under federal rules announced Thursday.
The Labor Department’s requirements are part of an effort in recent years by the government to make union finances more accessible to the public.
A federal appeals court said last year the department had the power to order more complete disclosure by unions, but said the government’s rules on trusts had to be more specific. The new requirements are intended to comply with that the court’s ruling.
Labor organizations with total annual receipts of more than $250,000 must file forms, to be available for public review, for certain trust funds if:
–the fund’s primary purpose is to provide benefits to union members and their beneficiaries.
–the union contributes at least $10,000 annually.
–the fund has $250,000 or more in annual receipts, and union money either accounted for half of the revenue or union-appointees make up a majority of the governing board.