October 30, 2026 — Vice President Randi DiAntonio delivered this year’s Secretary-Treasurer’s Report to delegates after stepping into the role at the request of President Spence following the retirement of Joe Donahue. She began her speech paying tribute to the outgoing secretary-treasurer.
“Joe never lost sight of PEF’s mission and vision: to organize, to build power, and to bring together the strength of our diverse membership,” she said. “He approached every single budget decision, audit, and financial report with integrity and care; he always focused on how our resources could strengthen this union and best serve our members.”
DiAntonio pledged to keep PEF focused on improving members’ lives.
“A budget is much more than a financial document. It is a statement of values and priorities,” she said. “It tells our members what we are willing to invest in, what we are prepared to protect, and how seriously we take our responsibility to weather any storms and sustain this union for the long term.
“Today, I am happy to report that PEF remains in a strong financial position,” DiAntonio announced. “In fiscal year 2026, the net assets of the union increased by $2,108,571. That is not just a financial result; it reflects disciplined and responsible oversight. Income from membership dues increased by approximately $3.4 million, reaching approximately $47.7 million.”
Dues revenue rose with membership growth and the contractual raises that went into effect on April 1, 2025. As reported in the State of the Union, membership now exceeds pre-pandemic levels and continues to grow.
DiAntonio told delegates that total assets rose from $39.23 million on March 31, 2025, to $44.01 million on March 31, 2026, largely through increases in cash, cash equivalents and investments. Investment gains, including interest and dividends, totaled approximately $1.8 million.
“Strong finances allow us to bargain from a position of strength, defend members, support health and safety initiatives, train leaders, communicate effectively, organize around shared priorities, and advocate for public policies that respect the dignity and professionalism of the workforce we represent.”
Liabilities rose $2.68 million, largely from a $1.05 million increase in post-retirement liability and an $847,000 increase in leases, with various regional offices requiring renewals during the fiscal year. Post-retirement costs reflect higher-than-anticipated medical and prescription claims, which drove premiums up more than 40%, as well as an increase in the number of PEF employees.
“While our costs are definitely increasing, so are our efforts to recruit and retain members, and our membership numbers reflect that,” DiAntonio said. “Most importantly, we continue to be fiscally prudent. Our members deserve a union that is financially strong, politically powerful, operationally responsible, and clear in its purpose.”
Editor’s note: PEF’s consolidated financial statements as of March 31, 2026, and 2025, along with the full auditor’s report, were published in the September Communicator and can be reviewed here.