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FPL, IBEW ANNOUNCE EARLY RETIREMENT PACKAGE

 JUNO BEACH, Fla., Aug. 30 /PRNewswire/ -- Florida Power & Light Company and System Council U-4, International Brotherhood of Electrical Workers (IBEW), today announced an agreement has been reached to offer an early retirement package to approximately 370 eligible bargaining unit employees.
 The agreement is similar to one announced Aug. 25 covering approximately 500 non-bargaining unit employees at FPL.
 Under the plan announced today, bargaining unit employees 54 years of age or older who have a minimum of 10 years of service will have from Sept. 3 to Sept. 24 to decide whether they wish to participate in the voluntary retirement program. Retirement would be effective Oct. 1.
 The plan offers the option of adding five years to an employee's age plus five years to length of service to calculate retirement benefits. A second alternative offers a regular pension based on actual age and service plus a supplemental pension based on three weeks' pay for every year of service with a maximum of 14 months.
 The voluntary retirement package is part of a major cost reduction effort announced by FPL in July to enable the company to maintain stable rates for customers and to compete effectively in the rapidly changing utility industry.
 According to Larry Kelleher, FPL senior vice president, human resources, "We are very pleased that we were able to reach a speedy agreement with the union leadership." Following completion of all voluntary retirement plan enrollments, FPL will proceed with plans to eliminate additional bargaining unit and non-bargaining unit positions as previously announced, Kelleher said.
 The voluntary retirement and additional work force reductions are being undertaken by FPL to help position the company to be competitive in today's energy marketplace. FPL's base rates have not increased since 1985 and the company believes that avoiding a rate increase is in the best interests of business and residential customers alike.
 FPL, one of the nation's largest investor-owned utilities, is the principal subsidiary of FPL group, Inc. (NYSE: FPL).
 -0- 8/30/93
 /CONTACT: Florida Power & Light Company Corporate Communications Dept., 305-552-3894 or 305-552-3895/
 (FPL)


CO: Florida Power & Light Company; International Brotherhood of
 Electrical Workers (IBEW) ST: Florida IN: UTI SU:


AW -- FL006 -- 7255 08/30/93 17:33 EDT
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Publication:PR Newswire
Date:Aug 30, 1993
Words:366
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