Key provisions include:
- General wage increases in each year of the contract for most employees – 2.25 percent the first year, 2.75 percent the second year, and 3 percent the third year.
- A 1 percent pension band increase in each year of the contract to the banded pension plan enjoyed by most current employees. New hires will continue to receive the Bargained Cash Balance 2 Pension Plan, with a one-time, 1 percent pay credit increase and an 80 percent match in the AT&T Retirement Savings 401(k) Plan.
- Expands to additional employees a guaranteed job offer provision that promises qualified surplused employees a guaranteed job opportunity with AT&T.
- Maintains one of the most robust health care plans in the nation, continuing to cover 100 percent of network preventive care, including such items as annual physicals and well-child care, with modest increases in employee contributions. For example, employees with individual coverage will pay monthly contributions of $38 in the first year of the contract, $58 the second year and $79 the third year of the contract. Employees with family coverage will pay monthly contributions of $81, $121, and $163 over the three years of the agreement. New hires will pay higher contributions. Deductibles for network care will be $500 for individual coverage and $1,000 for family coverage in each year of the contract.
http://www.att.com 08-Aug-12