UAW LOCAL 1050

Message From The Bargaining Committee

The following is the main points that were given in the companies (Arconic) last best and final offer presented to the Bargaining committee on 2/28/2020 late evening.

At this point the bargaining committee is unanimous in saying we do not endorse this proposed contract. It is concessionary and currently with the company making continuous record profits there is no reason to take any concessions.

More details and questions answered Wednesday 3/4/2020 at UAW local 1250 Ford Hall. Please attend one of the meetings to be informed, ask questions and vote.

Arconic Last, Best, and Final Offer-UAW Local 1050-February 28, 2020

Duration: (4) Years, expiring at midnight on February 28 2024

Wages

Year  1 - 3.5% GWI effective March 2,2020

Year  2 - 3.5% GWI effective March 1,2021

Year  3 - 3.5% GWI effective February 28, 2022

Year  4 - 3.5% GWI effective February 27, 2023

Special Ratification Bonus Payment:

All active employees shall receive a lump sum payment in the gross payment of $2500 paid in the payroll period immediately following ratification.

In addition, to recognize the impact of the following changes:

·         Attendance Policy change

·         Freeze of remaining defined benefit pension plans for employees hired <2010 (note: additional onetime deposits to 401k plan as well as increase of company contributions)

·         Discontinuation of additional credits previously available to Medicare retirees

 All active employees shall receive a lump sum payment in the gross payment of $5,500 paid as follows:

·         2020 - $2500 paid in the payroll period immediately following ratification

·         2021 - $1000 paid on or before February 28th

·         2022 - $1000 paid on or before February 28th

·         2023 - $1000 paid on or before February 28th

        This payment will not be considered as eligible earnings for any other benefits and employees must     remain employed with the company as of the payment dates each year or retire (as defined by the company's retirement plans) to be eligible for these payments.

Pension/Retirement Income

The current Defined Benefit Plan will be frozen for participants in Plan (IID) and Plan (IIBB).

·         The Company will make a one-time contribution in the amount of $11,000 into the 401K plans for IID participants.

·         The Company will make a one-time contribution in the amount of $6,500 into the 401K plans for IIB participants.

·         Participants in Plan (IIDD) and Plan (IIBB) will move into the Defined Contribution (i.e.: "ERIC") pension plan receiving 3% Company contributions into their 401K accounts.

·         The Company match into the 401K will be increased to 75% up to 6% for all employees.

Health and Welfare Contributions - Active Employees

·         The current plan design (i.e.: "Master 2015") will remain in effect for the life of the agreement.

·         Employee premiums will be held flat for the life of the agreement.

Retiree Medical - Additional Credits

·         The additional credits previously extended to Medicare retirees will be discontinued.

·         Active employees who retire after the ratification of this labor agreement will not be eligible for additional credits.

·         Cap credits will remain unchanged as indicated below:

Voluntary Buy-out Retiree Medical and Life Insurance

The Company will have the discretion to offer eligible retiring employees and current retirees the option of receiving a lump-sum cash payment in lieu of receiving retiree medical and life insurance benefits, at time periods subject to company discretion. If offered, this is completely voluntary on the employee's or retiree's part, and the decision to accept such buy-out offer lies solely with the employees or retiree. If so offered, the Company will review information regarding communications with the UAW prior to delivery of such information.

Additionally, the following Company non economic proposals that the Company intends to implement that are fully rejected by the Union:

Attendance Policy

Maintenance Mandatory Overtime