Please participate in the contract ratification vote on Sunday, April 2, 2006. Please refer to the union's website www.teamsters1150.org for the time and location of the vote.
The proposed new contract includes:
The highest recent general wage increases for UTC aerospace hourly employees in Connecticut 3.5 percent in each year of the three-year agreement
Average annual base wage increase to $60,000
The highest recent ratification bonus for UTC aerospace hourly employees in Connecticut $3,000 paid to employees in April 2006
$4,500 if placed in the employee's 401(k) savings plan
Opportunity to select retroactive health care coverage and refund of COBRA payments
The highest pension multiplier increase for UTC aerospace hourly employees in Connecticut 15 percent increase in the pension monthly multiplier to $52
A 40 percent increase in company-provided cash balance pension contributions to $1,456 annually. This is a unique pension plan only for Teamster-represented employees in Connecticut
A voluntary severance program available to a maximum of 200 participants, age 55 or older who have at least 15 years of service One week's pay for each year of service
One year's medical coverage
$15,000 lump sum payment
A 10 percent increase in allowed contributions to 401(k) savings plans over the life of the agreement from $56 to $62 a week - matched by the company at 50 percent
38 paid holidays over the life of the agreement in addition to three floating holidays.
Delayed implementation until Jan. 1, 2007 of a new 80/20 co-insurance health care plan design, the same plan that covers 6,000 other Sikorsky employees in the U.S. Almost two years without an increase in employee contributions.
Sikorsky is entering an exciting new era. We invite you to be part of it. Now is the time to put divisiveness behind us and get back to producing the world's finest aircraft.
Vote YES for the contract.
Vote YES for your future.
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