A number of news agencies are reporting some details of the ‘tentative’ four-year agreement between the United Auto Workers and Chrysler.
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Reuters said that union officials said economic terms of the Chrysler deal, outlined in an official document obtained by Reuters, were largely copied in the UAW’s tentative deals with Ford and GM.
On wages Reuters said the deal included an ‘up-front “signing bonus” of $3,000 when contract is ratified as well as a lump-sum payment in 2004 equal to 3 percent of “qualified” earnings, including bonuses and overtime. There would also be a 2 percent wage increase in 2005 and 3 percent wage increase in 2006, according to Reuters.
On pensions, Reuters reported that the basic benefit rate — a figure used to calculate monthly retiree payments — will rise about 9 percent over the contract, from $46.70 currently to $50.90 in 2006. In addition, the “30-and-out” monthly benefits, paid to workers who do not qualify for Social Security but have 30 years of seniority, will rise by about 11 percent, or $290, during the contract.
On health care prescription drug co-payments for active employees rise to $10 for brand-name drugs and remain at $5 for generics. Co-payments for UAW retirees remain at previous levels, acording to Reuters. There are also increased maximums for dental treatment; full coverage for outpatient dental surgery. In addition, Reuters said that there are scratch-resistant eyeglass lenses, flu shots for children and adults, wigs for adults in cancer treatment and mammograms for women at risk of cancer between 35 and 40 years old all covered for first time.
