Mon, Jun 16, 2003
Bonuses, Pension Improvements, V-22 All On Table
Bell
Helicopter Textron Inc production and maintenance workers, members
of the United Aerospace Workers Local 218, agreed Sunday to accept
a new three year contract with the company. Union officials
notified Bell of the acceptance vote at approximately 4:00 p.m.
CDT.
Bell's Executive Vice President of Administration, P.D. Shabay,
congratulated union members on their new contract. "Working
together as partners we look forward to going into full rate
production on the V-22 Osprey and the H-1 Helicopter Upgrade
programs," Shabay added. Donald White, Chairman of UAW, Local 218
said, "This was a very difficult negotiation, but we are all
pleased with the results and look forward to creating value for our
customers."
The contract calls for a ratification bonus of
$1,700 to be paid on June 26, 2003. A general increase
of 2% will be granted on June 13, 2005. Cost-of-living adjustments
will be granted quarterly based on changes in the three-month
average of the consumer Price Index for Urban Wage Earners and
Clerical Workers. Group insurance, life insurance, accidental death
and dismemberment, accident and sickness weekly benefit and health
care benefits will have minor changes from those specified in the
previous contract. The basic monthly pension rate of the basic
pension formula for employees retiring on or after September 1,
2003, under the Early or Normal Retirement provisions of the Plan,
increased to $51.00 (currently $46.00) per year of credited
service. The Agreement also calls for Bell to become a smoke free
facility on January 1, 2004.
Bell and the UAW also signed an Employee Involvement agreement
in which they agree to work together to deliver to their customers
the highest quality and best value products and services in the
industry. The contract affects approximately 1900 Bell employees.
Three smaller locals, representing the security force, some
administrative workers and some engineering personnel, will
renegotiate their existing contracts with Bell over the next two
months.
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