*Please note: This pertains only to those members of the Council who participate in the Northeast Carpenters Funds
January 4, 2017
Brothers and Sisters:
I wanted to update you on the recent developments regarding the Northeast Carpenters Funds (“Funds”). George Laufenberg, Administrative Manager for the Funds, was removed from his position on December 23, 2016.
On December 7, 2016, the attorneys for the Funds were directed by the Board of Trustees to investigate concerns regarding Mr. Laufenberg’s employment contract. During the course of the investigation, the attorneys reviewed documents and conducted interviews. The investigation revealed that Mr. Laufenberg had modified the terms of his employment and that such modifications were not voted on and/or approved by the Board of Trustees of the Funds. These conclusions were presented to the Board of Trustees on December 20, 2016. Upon review, and by unanimous decision, the Board of Trustees then acted to remove Mr. Laufenberg from his position on December 23, 2016.
The removal of the Administrator was in accordance with the recommendations issued by the Funds’ attorneys. The Board of Trustees took this action as necessitated by their fiduciary responsibilities. The Trustees want to assure all members that the financial integrity of the Funds remains intact. There is no more sacred obligation that the Trustees hold than that of their financial responsibility to protect the hard-earned assets of the members and their families.
As to next steps, the Board of Trustees has authorized an independent and comprehensive review of the Funds’ organizational operations to ensure that it is functioning ethically, efficiently and effectively. At the conclusion of this review, recommendations for improvements will be provided to the Board for their consideration.
On December 20, 2016, Pete Tonia, who currently serves as the Funds’ Administrator for the Carpenters Benefits Funds of Philadelphia, was appointed as the Interim Administrator of the Northeast Carpenters Funds.
We will keep you informed as to developments in this important matter. Please check the Northeast Regional Council of Carpenters website for updates.