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 3/11/2020.
At this point the Bargaining Committee and
Executive Board is
unanimous in saying we do not endorse this proposed contract again. 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 during
the information meeting. Time and location is To Be Determined at this moment. Please attend the meeting to be
informed, ask questions and vote.
The Union does
NOT agree with this offer
Arconic Final Offer-UAW Local 1050-March 11, 2020
Duration: (4) Years, expiring at midnight on February 28 2024
Wages
Year 1 - 3.5% GWI effective March 23,2020
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
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 one-time deposits to 401k plan as well as increase of company
contributions)
·
Reduction 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
These payments 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
·
Effective January 1, 2021 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 on December 31, 2020
·
The Company will make a one-time contribution in the amount of $6,500 into the
401K plans for IIB participants on December 31, 2020
·
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.
|
Current |
Proposed |
|||
Weekly Amount |
2020 |
2021 |
2022 |
2023 |
2024 |
You Only |
$64.00 |
$64.00 |
$64.00 |
$64.00 |
$64.00 |
You + Family |
$85.00 |
$85.00 |
$85.00 |
$85.00 |
$85.00 |
Retiree Medical Credits
·
Beginning January 1, 2021, the additional credits previously extended to
Medicare retirees will be reduced to 25% of 2020 values. ($272)
·
Active employees who retire into Pre-Medicare status prior to April 1, 2022 will
be eligible to receive the additional credit amount of $1901 until they
transition into Medicare status.
·
After April 1, 2022 active employees will no longer be eligible for additional
Cap credits.
·
Cap credits will remain unchanged as indicated below:
|
Cap Credits |
Pre-Medicare |
$7,767 |
Medicare |
$3,389 |
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
·
Changing Attendance Policy from current process to a rolling 12-month period
starting 2/1/21
Maintenance Mandatory Overtime
·
New employees hired after the ratification of the agreement will be subject to
mandatory overtime