No change in Job security language
	No change in movement of work
	Five year contract – no re-opener
	Wage increases will be 3% lump sum upon ratification

2% guaranteed minimum annual increase in August of ‘04, ‘05, ‘06, & ‘07 plus a new cost of living that would be payable in ’06 and ‘07

Corporate Profit Sharing - $500 minimum payable in ‘04

$550 minimum payable in ‘05

$600 minimum payable in ‘06

$650 minimum payable in ‘07

$700 minimum payable in ‘08

Pension – temporary pension band increase of 5% between Oct. 1, 2003 and Dec. 31 2003 – all titles

- - Permanent pension band increases

o o Nov. 1, 2004 2%

o o Oct. 1, 2005 3%

o o Oct. 1, 2006 3%

o o Oct. 1, 2007 3%

The lump sum cashout GATT rate for the 3rd quarter will be extended through Nov. 30, 2003

The lump sum pension will end Dec. 31, 2003, and then resume Nov. 1, 2004, and extend through Aug. 2, 2008.

Health Care – No premium sharing for actives or retirees for the life of the contract.

A spousal surcharge of $40.00 per month for spouses or domestic partners that have coverage available where they work with an income of more than $25,000 or an annual premium of less than $900.00.

A new PPO arrangement will be integrated with the current medical expense plan.

Co-pays will replace the 80/20 cost sharing when in network. The Co-pays for MEP/HCN will be

January 1, 2004 $10.00 per visit

January 1, 2005 $15.00 per visit

 

Deductibles January 1, 2004 $150.00

January 1, 2006 $200.00

January 1, 2008 $250.00

Family max 2.5 times single

Prescription drug MEP / HCN mail order

Generic $ 8.00 90 day supply

Brand name w/o generic equiv $12.00 90 day supply

Brand name w/generic equip $20.00 90 day supply

In Network

Retail prescription -15% of discounted network price (DNP)

$25.00 cap

Brand name w/o generic equiv 20% DNP

With a cap of $40.00

Brand name w/ generic equiv 30 % DNP

With a cap of $50.00

Prescription drug out of Network

$50.00 deductible per person

15% of discounted network price (DNP) with a $25.00 cap

Brand name w/o generic equivalent 20% DNP with a cap of $40.00

Brand name w/generic equivalent 30% DNP with a cap of $50.00

Any IPP offered throughout the life of the contract has been enhanced with a $10,000 bonus.

 

General

Article G4 add “supervisors who have more than three (3) consecutive years in a supervisory position may not retreat to a bargaining unit assignment.”

 

Article G6 add “company will pay premiums for HMOs”

 

Article G14 With respect to the expiration of sickness benefits under the Verizon Sickness and Accident Disability Benefit Plan for New England Associates, the ’11 month letter’ will include a reference to the employee’s option of applying for a leave of absence following the 52 week maximum benefit period

 

Article G23 .01 (d) change from 30 days to 15 days (length of time to decide on IPP option)

 

 

Plant Department

P19 delete 19.05 (six month protection from layoff)

 

Traffic Department

	Tour length increased to 7.5 hours
	Annual payment of $300 to all WT 31 employees
	Layoff by New England

 

Sales Department

	Increase pension band from 115 to 117
	Increased SA differential (is now 10%)
	Improvements in short notice EWDs

The Child Care Reimbursement Plan will be re-implemented