Duration
This agreement shall become effective on April 1, 2008, and will remain in place until 11:59 p.m. on August 3, 2013.
Wages and Compensation
1) Ratification Bonus On August 3rd, 2008 & 2009, each active employee will receive a lump sum of $250.00
2) Basic Wage Increases
The schedule of wage increases for the term of this agreement will be as follows:Effective Date Increase Applied to
Sunday, 8/3/08 3% All steps of the basic wage schedules
Sunday, 8/2/09 3% All steps of the basic wage schedules
Sunday, 8/8/10 3% All steps of the basic wage schedules
Sunday, 8/7/11 3% All steps of the basic wage schedules
Sunday, 8/5/12 3% All steps of the basic wage schedules
-Eliminate WT 51 August 2008
3) Cost of Living The Cost of Living formula will be applied in August of 2011 and 2012
4) Corporate Profit Sharing (CPS) CPS will provide awards for results in calendar years 2008, 2009, 2010, 2011, and 2012 with awards payable in 2009, 2010, 2011, 2012, and 2013. The minimum distribution will be $700 in each year.
5) Expense Articles P15 & P16 5% Increase on 1/1/09 and 1/1/11; Improved P16.15 Accommodation Language
Employee Benefits
1) Pension
- Pension bands will be increased as follows:
Effective Date Percent / Band Increase
10/1/08 3%
10/1/09 Increase all Pension Bands by One
10/1/10 3%
10/1/11 Increase all Pension Bands by One
10/1/12 3%
- Lump-sum cash outs will be available for separation from service during the following periods:a) through August 2, 2008b) January 1, 2009 to June 30, 2012, andc) January 1, 2013 to August 3, 2013.
- Wage Table 31: Remove note 4 reducing the pension band. Maintain band as is.
- The Company will meet with the Union annually to review performance of pension assets.
2) Retiree Healthcare All changes are effective January 1, 2009, unless otherwise noted.
- For plan years 2009 through and including 2013, the Company shall pay 100% of the cost of coverage for the Coverage Category elected. Plan years beginning on and after January 1, 2014, post 1/1/92 retirees will pay any excess above the following revised cap:
| Coverage Category |
Pre-Medicare |
Medicare - Eligible |
| Retiree |
$13,000 |
$7,100 |
| Retiree +1 |
$26,000 |
$14,200 |
| Retiree + Family |
$32,500 |
$21,000 |
3) Active Employees Medical Benefits
-The office visit co-payment will increase to $20.00 on January 1, 2009, and will remain at that level throughout the 2013 plan year.
-Aetna MEP PPO: “In-network” office visits will be covered at 100% after a $15 co-pay for the 2009 Plan year, the co-pay will increase to $20 on January 1, 2010 and increases again to a $25 co-pay on January 1, 2012. - For the MEP PPO and Indemnity, the annual deductible and out-of-pocket maximum shall be a per individual deductible as follows:
| January 1, 2009 |
$250 |
| January 1, 2010 |
$300 |
| January 1, 2011 |
$300 |
| January 1, 2012 |
$350 |
| January 1, 2013 |
$350 |
The family deductible will remain at two-and-one-half times the applicable individual deductible. -The current out-of-pocket maximum for the MEP PPO and Indemnity shall increase as follows:
| January 1, 2009 |
$700 |
| January 1, 2010 |
$750 |
| January 1, 2011 |
$750 |
| January 1, 2012 |
$800 |
| January 1, 2013 |
$800 |
-The annual out-of-pocket maximum for the MEP PPO and Indemnity prescription drug plan shall be increased as follows:
| January 1, 2009 |
$300 |
| January 1, 2010 |
$350 |
| January 1, 2011 |
$350 |
| January 1, 2012 |
$400 |
| January 1, 2013 |
$400 |
4) 401K
- The matching contribution after close will be in the form of cash
- Existing Verizon stock will be treated in the Plans as “Exit Only”
- The Company will not assess any administrative or management fees beyond what the associates currently pay in the Verizon plan
- The ESOP feature will be removed moving forward
- Publicly available funds will be chosen
- Company will meet with the Union annually to review 401K Investment Options, Selection of Funds, and other 401K items.
5) Work and Family A Joint Management/IBEW/CWA Work and family Committee will be established to disburse an annual amount of $425,000. The fund will start with an initial $60,000. The fund will provide $25,000 towards the salary of one full-time IBEW representative. The salary of the Management position will be paid by the Company. 6) Next Step New classes will end beginning 1/1/09. Existing classes will continue as planned with no change in language.
Other Provisions
Neutrality and Card Check Recognition
The agreement will cover the region of Maine, New Hampshire, Vermont, Rhode Island, Massachusetts, and New York. Card check procedures will be established. The Company agrees to remain neutral during the campaign.
Transfer of Jobs
The Company may not permanently transfer IBEW or CWA represented jobs to any entity which is not a signatory to this agreement.
Successor Agreement
The Agreement will be binding upon successors and assigns of the Company under specific and limited conditions.
Contract Work
When emergency conditions exist (A P3.06) and it’s necessary to supplement OPT and SST work the following procedures will apply in order of priority:- FairPoint unionized operations in ME, NH, & VT- FairPoint unionized operations in NY- Assistance will be requested from Verizon –MA, RI, & NY- Work will contracted as required
Benefits Coordinator
The Company will establish and the Union will designate one bargaining unit employee to fill the position of Benefits Coordinator.
Overtime Rules
-Sunday and Holiday Overtime to be maintained locally-Default position will be the Overtime List
