There will be a carve out plan and it will be approved. It only has to be as good at C6 Enhanced but it will be better & we will have a Summary Plan Description before we vote. The Company has no interest in disapproving the plan, and Hoffa/Hall are on board. By voting down all 3 CBA's in the West we assured our chance at controlling our own destiny.
The first year more is going to H&W to establish the fund, and $.05 to restore Post 65 coverage (which is very important) so only $9.85 to Pension the first year ($7.85 part time).
2nd & 3rd years the plan is to keep it at $.50/$.50
5th & 6th years are open, but the Company has committed to $1.01 & $1.14 so more can go to H&W if needed. There is a provision that allows members to vote to divert some of the general wage increase to Pension, so if necessary we can vote to do so those years, or any year, to divert more of the $1, $1.01, $1.14 to H&W. In no way will we allow our Pension to go unfunded or underfunded, and we are at 94% funded now. Best run pension fund in the Nation hands down. It's unreal that we basically have a part-timer following us around putting money into our Pension fund.
The carve out allows us to control our own destiny as that was lost with the passage of the National Master. Our local control over H&W is most likely gone forever. I urge you to allow Andy M to develop his carve out plan prior to your condemning the whole crew.
