Verizon Settlement Provides New Union Jobs, Protects Health Care For Active and Retired Workers, Boosts Wages, Pensions for 65,000 

"This agreement is a tribute to the solidarity and activism of IBEW and CWA members working at Verizon," said IBEW President Ed Hill.  "Our members mobilized strong and negotiated hard for a good contract that will benefit workers and their families now and in the future.  We congratulate union and company negotiators for finding solid common ground upon which we can build a better Verizon.  With this agreement we have met our goals to protect the retirees who helped build this company and have negotiated important provisions that will ensure future jobs for union members."  The CWA represents 50,000 workers at Verizon and IBEW represents another 15,000 in the northeast.  On behalf of the IBEW Local 2321 Negotiating team and the System Council T6 Negotiating Committee, I would like to thank every member for their overwhelming support, solidarity and perseverance.

Ed Starr, Esq., Business Manager IBEW 2321

2008 Collective Bargaining Agreement BetweenThe IBEW System Council T6 and Verizon 

Highlights and Brief Summary

WAGES

Effective 8/3/2008 3.25%

Effective 82/2009  3.5%

Effective 8/3/2010 3.75% 

COLA

Effective 8/1/2010 One half of the increase in the CPI-W in excess of 3.75% Between May 2008 and May 2010

Corporate Profit Sharing

$700 Minimum Distribution Paid in March of 2009, 2010. 2011 

Pension Band Increase

Effective 8/3/2008 3.25%

Effective 82/2009  3.5%

Effective 8/3/2010 3.75% 

Pension Lump Cash-Out

Pension Distribution Options remains in contract with no change in the language by which the amount is calculated.

Available any time for the life of the contract.

Verizon Business

Field Techs in plant with carve outs

Inside Techs in plant with carve outs

Guarantee Small and Medium business exclusively for represented commercial

Video head End Work in plant with carve outs 

All Temporary IBEW Unionized Employees Made permanent  

Union and company to meet three times a year for discussion on union jobs and efficiency/growth with top management

Active Health Care: Maintained full employer paid coverage with limited plan designs.

Retiree Health Benefits

Fully paid, no retiree pays for the life of the agreement. Any changes in future plans for retirees will be negotiated with the Union.No current retiree will pay for health coverage through the end of 2011. 

Employees Hired after August 2, 2008 will be covered under new retiree health program.Once they retire (under the same eligibility requirements as currently required) they will receive an annual payment equal to $430 times years of service (Maximum 30 years) The parties will negotiate this amount in future years to reflect changes in the cost of health care.