I had the pleasure of recognizing Brother Greg E. Luiz at the 2025 Annual Meeting of the Members. Brother Luiz surpassed fifty (50) years of BR&CF membership in 2024. It was my honor to present him with a plaque in appreciation of his long-standing support and loyalty to this organization. I also want to thank Greg for making the cross-country journey from his hometown of San Diego to our principal office in Pennsylvania.
Discipline continues to trend upward. In 2025, the Fund paid benefits in excess of dues income on three Class I railroads: CN (U.S.), CPKC (U.S and Canada), and UP. Fortunately, discipline at BNSF, NS, and CSX has remained stable. It is too early to gauge the impact of the UP takeover of NS, but we will continue to monitor developments closely.