The Union and the Company met yesterday and again today to work on coming to terms on a fair contract. Discussions on elimination and modification of job titles and wage rates as well as continued material ordering and handling through the letter agreement on page 64 dominated the talks. At the end of today's session we are happy to announce we have come to a tentative agreement with the Company on a new three year contract.
The new contract, upon ratification, will run for 3 years through 10/31/2020. Improvements and changes include wage increases of 2% in each year over the life of the agreement, home garaging, increased PTO allowances for many, better PTO pay out at retirement, STD, Standby pay treatment for Holidays, elimination of EIPP language with a cap of $28,800 and inclusion of voluntary termination allowance language that will be based on years of service with a new cap of $45,500 and call out time from the time you leave your residence until the time you return.
The Union committee also stopped the Company's efforts to remove titles from your Bargaining Unit, to introduce new language to your contract that would allow it to modify previously negotiated wage rates, efforts to eliminate double time on Holidays, and the elimination of warehouse work.
A complete, detailed explanation of every change will be available and discussed in greater detail at the explanation/ratification meeting where the Union Bargaining Committee will answer any questions that you may have.