What was the process for selecting Caremark?
Mastering the management of a plan that pays out millions of dollars a year, (our number one expense in benefits), and serves 30,000 Members and their dependants was NO SMALL task. We approached it with great thoroughness and care, considering its impact on our families. The steps we took included: 1. Retained experts to help us create a Request for Proposal (RFP) that was distributed to a pool of reputable and qualified companies for competitive bids. 2. Enlisted the help of our Funds counsel Brian O’Dwyer, Esq., who has extensive experience and has represented the International Teamsters and the Carpenters in negotiating new plan administration contracts. 3. Formed an internal team, which consisted of Health & Welfare Secretary Jerry Leary, Business Affairs Director Dennis Osterman, and Fund Administrator Errol Ogman. Together with our outside experts, they evaluated all bids and presented a manageable number of acceptable bidders to the Fund Trustees (the seven Executive Board Membe
