Contract Ratification Update
- Amanda Lake
- Mar 25, 2016
- 1 min read
Local 2432 Brothers and Sisters,
Below are highlights from the new contract which we’ll be bringing to you for a ratification vote soon:
EVERGREEN STUDY
The Evergreen Study will be implemented for all three bargaining units which merges pay grades (no more General/Enterprise/Tier A/Tier B). Employees have started receiving letters explaining their individual classification change and wage info. All employees should receive their letter within the next week.
WAGES:
October 2015 :
2.5% Wage Increase
1.5% Merit Increase
October 2016:
2.5% Wage Increase
1.5% Merit Increase
October 2017:
1% Wage Increase
0.5% additional wage increase if Pension funding meets threshold
PENSION:
30 years and out for those covered under the new normal retirement date calculation. An employee would have had to work until age 60 regardless of when hired (example: 20 year old currently has to work 40 years to retire)
HEALTH INSURANCE:
No employee premium increase, FSA card was increased (ratified December 2015)
No health insurance coverage in retirement for employees hired after ratification
We are working towards a ratification date of April 5, 2016. The proposed contracts will be posted on the website very soon for members to review.
