With Obama gone and new Labor Department leadership in place, now is the time to reinstate those regulations and address the following issues:
- LM-2 filings, which detail union executives’ compensation, should include the total cost of compensation for union officials including free housing and deferred compensation. LM-2 filings also should include the sources of revenues and the names of buyers and sellers of union assets worth $5,000 or more;
- LM-3 filings, which are less informative than LM-2 filings, should be limited to smaller unions, unless they are in receivership;
- T-1 filings, which were to cover union-managed trusts, should be reinstated.