Proposal for a 48 Month Agreement

Transcription

1 Triumph Aerostructures Vought Aircraft Division Proposal for a 48 Month Agreement between Triumph Aerostructures Vought Aircraft Division Marshall Street Facility and UAW, Local 848 April 24, 2015

2 Duration 48-Month Agreement Expiring Sunday. April, 28, 2019 General Wage Increases % 1.5% *Effective 1st Monday in April of the applicable year Lump Sums $1, $1, *Payable no later than the second pay period in April of applicable year Ratification Bonus $ 1, Should the Union ratify the proposed agreement on or before 11:59 PM Saturday May 2 nd 2015, each UAW represented employee on the active payroll (including employees on an approved leave status) will receive a ratification bonus in the amount of one thousand dollars ($ ) payable no later than the third Friday after ratification, or as soon thereafter as practical.

3 Auto Progression Increase No change in the Current Auto Progression Provisions COLA No change in current formula. Retirement Multiplier For retirements on or after June 1, 2015 through December 31, 2016, the pension multiplier shall increase from $67 to $69. For retirements on or after January 1, 2017 through December 31, 2017, the pension multiplier shall increase from $69 to $70. For retirements on or after January 1, 2018 through December 31, 2018, the pension multiplier shall increase from $70 to $71. For retirements on or after January 1, 2019, the pension multiplier shall increase from $71 to $72. Pension Freeze / 401k / RCA Effective January 1, 2016, all employees having thirty (30) or more years of benefit service as defined in Article VII will cease to accrue any future pension benefits (benefit service will be frozen as of said date). Effective January 1, 2016, employees who are accruing a defined pension benefit will no longer be eligible for the Company 401k match provisions. Once an employee ceases to accrue pension benefit service, the employee will be eligible for the Company 401k match provisions.

4 Pension Freeze / 401k / RCA (Continued): Effective January 1, 2016, the Company will cease providing contributions to a Retirement Contribution Account on behalf of any and all UAW-represented bargaining unit employees. Holidays: Holiday New Year s 1-Jan 2-Jan 1-Jan 1-Jan Memorial 25-May 30-May 29-May 28-May Independence 4-July 4-July 4-July 4-July Labor 7-Sep 5-Sep 4-Sep 3-Sep Thanksgiving 26-Nov 24-Nov 23-Nov 22-Nov Friday 27-Nov 25-Nov 24-Nov 23-Nov following Thanksgiving Year End 24-Dec 23-Dec 22-Dec 24-Dec Holiday 25-Dec 26-Dec 25-Dec 25-Dec 28-Dec 27-Dec 26-Dec 26-Dec 29-Dec 28-Dec 27-Dec 27-Dec 30-Dec 29-Dec 28-Dec 28-Dec 31-Dec 30-Dec 29-Dec 31-Dec

5 Active Health Care For the period of July 1, 2015 through December 31, 2015, the Company will offer the same health care plan as set forth in the 2010 collective bargaining agreement, with the deductibles and out of pocket maximums reduced to reflect the half year plan. Employee contributions will remain for the period of July 1, 2015 through December 31, Beginning January 1, 2016, the Company will offer to UAWrepresented employees health and welfare benefits under the same Company plan offered to non-represented employees at the Marshall Street location ( the Company Plan ), except for the short-term and long-term disability plan options offered through that plan arrangement. Dental Care Effective with ratification and continuing through December 31, 2015, the Company will offer to UAW-represented employees the same dental benefits, at the same weekly contribution rates as currently offered under the October 4, 2010 Collective Bargaining Agreement. Beginning January 1, 2016, the Company will offer UAWrepresented employees dental coverage under the same Company plan with the same payroll deduction as offered to nonrepresented employees at the Marshall Street location. Vision Care Beginning January 1, 2016, the Company will offer UAWrepresented employees vision coverage under the same company plan with the same payroll deduction as offered to nonrepresented employees at the Marshall Street location. Samples of the current benefit plans offered to non-represented MSF employees can be viewed at:

6 Life Insurance Employees who are active at work or on an approved leave of absence on or after April 26, 2015 are provided a company-paid basic life benefit of $75,000 and AD&D benefit up to an additional $50,000. Employee-paid optional dependent life insurance coverage is available through weekly payroll deductions in accordance with the Certificate of Insurance for the following levels of coverage: Spouse: $30,000 Child(ren): $15,000 Miscellaneous Language Changes Number of Representatives o The total number of Company-paid Union Representatives, excluding the Local 848 President and Chairman of the Plant Grievance Committee shall not exceed the numbers as listed below: Site Hourly Headcount Measured Jan. 1 st of each calendar year Marshall Street

7 Number of Representatives (continued) o Union Representatives are offered overtime under standard overtime language. o Union Representatives will be paid 20 hours per week for Union business. Requests for weekend overtime o Overtime worked on Saturday, Sunday, or Saturday and Sunday, and sixth and seventh days in the case of employees assigned to seven (7) day operations will be on a voluntary basis provided the required personnel necessary to maintain production schedules can be secured. If the required number employees do not volunteer for the overtime in question, the necessary employees will be required to work, but in no event will employees be required to work more than three (3) weekend assignments in a month. Bereavement o Sister-in-law and Brother-in-law added to the Present Spouses Family definition of immediate family under bereavement pay.