|
Retiree Gains in the 2010 Agreement
Vision Care: Up to $1000 for the cost of laser eye surgery. Orthotics: Insole coverage up to $250 per year using a cost sharing formula of 80% paid by the company and 20% paid by member. This benefit is lost after 65 years of age. Dental: Maintain one year lag on ODA Dental Fee schedule. Life Insurance: Retirees, spouses and surviving spouse’s life insurance increased to $10,000 until age 65. The insurance reverts back to $6000 after 65. Cost of Living Allowance: During the life of this agreement, should the indexing reserve be insufficient to provide for the full 75% indexing of benefits under the plan, the Company will pay the difference to retirees and surviving spouses out of general revenues. One Time Retiree/Surviving Souse Payment: The 500 retirees/surviving spouses who receive the lowest pension income on pension will be given a one time payment of $500. All other benefits traditionally provided by the Company are still in place. |