Regional Bargaining Report # 10
July 9, 2015
IBEW New England, CWA District 1 and IBEW Local 2213 Regional Teams met with the Company today at the Rye Town Hilton in Rye, NY. We gave the Company numerous proposals centered around Pensions, Benefits, Tuition Assistance and more. This evening the IBEW System Council T-6 met and passed multiple proposals at the Local bargaining table.
You may have or soon will be receiving an e mail from Marc Reed, Verizon’s Executive Vice President explaining to you the Company’s proposal to slash your retirement security.
It will state that you have two options:
Option A – Continue to participate in the pension plan but it freezes at 30 years and lose any company matching contributions to the 401(k) plan.
Or
Option B – Give up future pension accrual and participate in the 401 (k) with 100% match and possible profit sharing contributions up to 3% of salary.
What the e mail doesn’t say is the Union proposed:
Option C – Our proposals include pensions for all employees, higher pension amounts, to retain the lump sum cash out, and an improved 401 (k) plan for all employees.
While Verizon proposes to destroy your retirement security, it’s a safe bet that Marc Reed and the top executives of this corporation don’t have to worry about the size of their retirement portfolios. Verizon should stop wasting their time writing lengthy e mails filled with propaganda and get serious at the bargaining table.
On Wednesday, July 15th, we will be holding our Annual Summer meeting where we will provide breakfast for our members who work nights and a cookout for those who work days. Breakfast will begin at 9:00 a.m. with a bargaining update to follow and the cookout will begin at 5:00 with a bargaining update to take place around 6-6:30.
We encourage all to attend to hear the facts of what is taking place at the bargaining table. If you work a shift that doesn’t line up exactly with the times of the meetings come have some food and we will cover any information you may have missed.
In Solidarity,
Steve Murphy