| VZ Contract Questioned? I see a War in 2011 "If the contract is so great.
Do you think that the company and the Union will put the actual contract on line,before the members vote? You know, post the new contract on the Company and CWA sites for the employees to see. This is of course a Communications company and union they can do it, if they want to be open. One has to ask why they would keep their employees / members in the dark and only share talking points before they vote on the contract. What would they want to hide from the employees.
As time goes on, you see that the COLA is only at the third year of the contract. Employees did not even match the inflation rate for the past year, they are already behind on inflation now. This aggrement does not even bring them up to being even with inflation. 3.25% gain in the first year, is no where close. I guess you could call this a negative gain to put a positive spin on the contact. You see that the contract seems to be weighted more to the future. Waiting for more of the older work force to leave.
Does anyone know about the letters of understanding? Or even if we have such letters. It seems to be that this contract sold out the newer employees. Stockholders can see reduced benefits for the future of the Company, which is a positive for the Company. HR,well, I think they are starting to chill the Champagne for a post approval party, after the members vote on the contract. I would expect bonuses in that department." -Union Employee
»messages.finance.yahoo.com/Stock···=2&off=1
Apparently, VZ union members will vote on a contract they won't see first. The HMO is gone for BC/BS PPO. BC/BS couldn't pay me for their crappy insurance.
You can go to: »www.unionvoice.org/cwa_unity_ver···19877776
Or: »www.cwa-union.org/verizon/
Summary:
Following is a summary of the tentative agreement.
Wages
a. Effective 8/3/2008 3.25 %
b. Effective 8/2/2009 3.5 %
c. Effective 8/1/2010 3.75 %
COLA
a. Effective 8/1/2010
b. One half of the increase in the CPI-W in excess of 3.75% between May ‘09 and May ‘10
Corporate Profit Sharing
a. $700 minimum distribution
b. Paid in March of 2009, 2010, 2011
Pension Band Increases
a. Effective 10/1/2008 3.25%
b. Effective 10/1/2009 3.5 %
c. Effective 10/1/2010 3.75%
Pension Lump Sum Cash-Out
a. Pension Distribution Options remains in contract with no change in the language by which the amount is calculated
b. Available at any time, for the length of the contract
VZ Business
a. 445 Field Techs in plant contract with carveouts
b. 145 Inside Techs in plant contract with carve outs
c. Guarantee small and medium business exclusively for represented commercial
d. Bring new VZ-B work to CWA represented locations 100 at end of 2009 and 100 at end of 2010
Video Head End – Video Work. Approx. 75 in plant contracts with carve outs
Temps and terms to Perms (Approx 1,200)
Three times a year discussion on union jobs and efficiency/growth with top management
Active Health Care: Maintained full employer paid coverage with limited plan design changes
Retiree Health Benefits
a. Fully paid, no retiree pays during life of agreement
b. Any changes in future health benefit plans for retirees will be negotiated with the Union in the same manner as that for actives and for future retirees.
c. No current retiree will pay for health coverage through the end of 2011.
d. No active employee who retires during the term of this agreement will pay or health coverage through the end of 2011.
e. Caps on the Company’s contribution to the cost of retiree health coverage in 2012 and after have been raised as follows:
i. Prior to Age 65 and Medicare Eligibility
1. Retiree Only: $12,580
2. Retiree + 1 25,160
3. Retiree + Family 31,450
ii. Age 65 and after and Medicate Eligible
1. Retiree Only: $ 6,330
2. Retiree + 1 12,660
3. Retiree + Family 18,990
f. Employees hired after August 2, 2008 will be covered under a new retiree health program.
i. Once they retire (under the same eligibility requirements as currently required), they will receive an annual payment equal to $430 times years of service (to a maximum of 30 years).
ii. The parties will negotiate this amount in future years to reflect changes in the cost of health coverage.
Agreement to work for National Health Care Reform and provide $2 million a year during term of contract.
New Dispute Resolution for Faster resolution of grievances
Savings and Security Plan
a. Add a Roth option to the 401(k) plan
b. Allows investment of post tax dollars with no taxes applied to investment returns when assets are later distributed.
Retiree Life Insurance
a. Company-paid retiree life insurance benefits will be frozen at one-times the wage level attained on 8/2/2008.
b. The minimum amount to be paid to beneficiaries of retirees who retiree after 8/2/2008 will be $20,000, even after age 65.
Retirees who were hired after 8/2/2008 will be eligible for the minimum $20,000
Increase supplemental insurance with ability to purchase 5 times salary
Commercial Issues
a. Collection
b. Jt Marketing Letter
c. Local Presence Centers
d. NJ collection office issues
Extend all existing District and Local Agreements and adjust all dates.
»messages.finance.yahoo.com/Stock···=2&off=1
It seems the health care issue can be redone in future years. It looks like VZ didn't cave but the Union blew it. The Union certainly screwed new employees over.
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Saving the world keeps me busy. However, I find Earth very primitive from my home planet of Krypton.
-Supergirl |
Reviews:
 ·AT&T U-Verse
| reply to supergirl
It is doubtful that the full text of the contract will be made public until it is fully ratified. If it runs anything like AT&T, there will be numerous local meetings where the union officers will explain the contract to the rank & file membership prior to the ratification vote.
Even local management in AT&T did not get the full text of the contract until ratified. |
