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Early settlement at Nabisco.

Nabisco Brands, Inc. and the Bakery, Confectionery and Tobacco Workers reached an early settlement of a 4-year master agreement covering 7,100 workers in 13 plants nationwide (Atlanta, GA; Buena Park and Oakland, CA; Buffalo and Niagara Falls, NY; Chicago, IL; Denver, co; Fair Lawn, NJ; Houston, TX; Philadelphia and Pittsburgh, PA; Portland, OR; and Richmond, VA). The pact featured establishment of a managed health care program in exchange for the creation of a 401(k) savings plan. Linking the savings plan to the health care program would make a managed care program more acceptable and encourage prudent use of medical services, according to the union.

The accord calls for a joint labormanagement committee to design a managed health care program to be submitted for approval by December 1, 1992, to the head of the international union's health benefit fund. In return, employees would be eligible for a tax deferred 401(k) plan, effective in March 1993. Employees would be able to invest up to 6 percent of their earnings, matched by the company at 25 cents on the dollar, effective in January 1994. The levels of the company contribution would depend on the savings generated by switching to the new managed health care program.

Other tenns include wage increases of 10 cents an hour on September 1, 1992 (in addition to a 40-cent increase payable on that date under the previous contract), 50 cents an hour on September 1, 1993 and 1994, and 60 cents an hour on September 1, 1995 (the average wage rate under the former contract was approximately $14 an hour); increased company contributions to the pension fund; a $200 increase during the term of the contract (to $1,000) in the monthly pension benefit; and a successorship provision, requiring a new owner to recognize the union and accept the collective bargaining agreement in effect at the time of purchase.
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Title Annotation:labor contract between Nabisco Brands Inc. and Bakery, Confectionery and Tobacco Workers International Union
Publication:Monthly Labor Review
Date:Dec 1, 1992
Words:314
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