Northeast Utilities System : NSTAR & UWUA Local 369 Leadership Reach Contract Agreement
06/02/2012| 01:35pm US/Eastern
Recommend:
Three-year Contract Now Awaits Ratification Vote by Union Workers
NSTAR Electric and Gas and leadership of its largest labor union,
Utility Workers Union of America AFL-CIO, Local 369, have reached
agreement on a new three-year contract. The contract now awaits a
ratification vote by union members on June 11th and will take
effect immediately upon approval.
"We greatly value our employees for the work they do everyday to deliver
excellent service to our customers," said Christine Carmody, Senior Vice
President of Human Resources at Northeast Utilities, NSTAR's parent
company. "This three-year contract with UWUA Local 369 will provide good
wages, excellent benefits, and a defined benefit retirement plan that
will continue for our current employees. This agreement is also
consistent with industry changes and provides an enhanced 401(k) plan
for new hires."
The new deal provides for important and necessary updates to
company-sponsored benefits programs while continuing to provide a
comprehensive total compensation package. Key provisions of the new
agreement include:
-
Annual wage increases of 3 percent, 2.75 percent and 2.5 percent,
respectively
-
A choice of three comprehensive medical, dental and vision plans
-
Enhanced 401(k) defined contribution plan for new hires
-
A new Roth IRA optional savings plan feature in the 401(k)
-
A commitment by the company to maintain its call center in Westwood, MA
"We are very pleased we were able to work together with the union
leadership in a mutually respectful way to achieve a fair and balanced
agreement," added Carmody. "It creates stability for our employees and
their families and recognizes the dedication and skill of our employees
who provide safe and reliable service to customers everyday."
UWUA Local 369 represents approximately 1,850 NSTAR employees working
throughout the company's service territory.
NSTAR is the largest Massachusetts-based, investor-owned electric and
gas utility. The company transmits and delivers electricity and natural
gas to 1.4 million customers in Eastern and Central Massachusetts,
including more than one million electric customers in 81 communities and
300,000 gas customers in 51 communities. NSTAR is a Northeast Utilities
company (NYSE: NU). For more information, visit www.nstar.com.
NSTAR
Caroline Pretyman: 617-424-2460
Michael Durand:
508-441-5831
Evening and weekends: 617-541-7888
© Business Wire 2012
Recommend :
