Enhanced EISP Offer Agreement Reached

The Enhanced EISP includes:
  • One Time Bonus of $50,000 (this includes the existing $10,000 voluntary termination bonus)
  • Raising of Caps on EISP payment to 40 years (was 30 years)
  • Waiver of Age based pension reductions for early retirement
  • Interest Rate Protection for Pension Lump Sum (better of the rates for date off payroll or December 2013)
  • One or more off payroll dates to be selected by the Company
  • 15 days to elect the EISP
  • Protect Article 7 language, language to address backfilling
  • A limited number of titles were selected by the Company for the EISP
Please consult a financial advisor before making any decisions. This IS NOT a step toward layoffs. It is important to note that this offer is outside our normal Art 7 layoff language. All protections and steps of Article 7 still exist. Please attend General Membership meetings to stay current on information that is important to you.
 
Upcoming November General Membership meeting, see www.ibew827.com for locations and times :
Central Unit- Nov 20
Raritan Unit- Nov 21
Essex Unit-Nov 21
Northern Unit- Nov 27
 
Your Officers and Executive Board