Electrical contract bans movement of operations.
Instead of wage increases, the active employees will receive four lump-sum payments over the term. The first was $200 payable immediately. The other three, payable in December of each year, will equal 3 percent of each worker's wage rate multiplied by the hours worked in the previous 12 months. According to the union, the average wage rate is $10.55. The automatic cost-of-living pay adjustment formula was revised by providing that in both the first and second years the formula will operate only if the Consumer Price Index rises 4 percent. If it does, adjustments will be calculated at the existing rate of 1 cent an hour for each additional 0.2-percent rise in the index. There is no "corridor" in the third year.
In a move to open jobs to laid-off workers, the accord provides that employees age 58 or older retiring during the balance of 1984 will receive an extra $450 a month until age 62. Those 61-1/2 years or older will be guaranteed 6 months of payments.
To minimize premium cost increases for Blue Cross medical coverage, employees will now pay deductible and coinsurance costs. Employees also will be permitted to select from among five other types of health insurance which, the union claimed, offer superior coverage and built-in cost controls.
|Printer friendly Cite/link Email Feedback|
|Publication:||Monthly Labor Review|
|Date:||Oct 1, 1984|
|Previous Article:||Dockworkers settle.|
|Next Article:||Utility workers end strike at Detroit Edison.|
|Koontz-Wagner; if it's electrical, South Bend firm has an answer.|
|N-plant cannot restart system.|
|LEAD: IOC rules out replacing doping-tainted Taiwan athletes.|
|Naval Research. (Technology Spotlight).|
|Fags ban vote.|