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New Hire improvements
Deferred Pay plan
New hire employees hired prior to this agreement are covered under the Chrysler Group LLC Cash Balance Plan for hourly rate employees.
Effective March 31, 2012, the Cash Balance Plan will be terminated and the company will begin making weekly contributions into employee accounts in the Hourly Deferred Pay Plan (HDPP).
New hire HDPP and retirement contributions
- Rollover opportunities will be made available for transfer of lump-sum distributions from the Cash Balance Plan to the HDPP. New hire employees hired prior to the effective date of this agreement will receive company contributions equal to 6.4 percent of eligible weekly earnings into the HDPP.
- For new hire employees and all skilled trades workers hired after the effective date of the agreement the company will contribute an amount equal to 4 percent of eligible weekly earnings into the HDPP.
- New hire employees will receive $1 per hour up to 40 hours per week in company contributions into the HDPP.
New hire life benefits
Your UAW bargaining team fought for language that will provide protection for UAW Chrysler new hire members during crucial times of need. Life and disability benefits are a necessity in protecting and providing income to families when they need it the most.
Under the proposed agreement, new hire employees shall be eligible for basic life insurance and extra accident insurance on the first day of employment. Active new hire employees will be provided with basic life insurance coverage in the amount of $45,000. The company will provide extra accident insurance in the amount of $22,500.
Your negotiators were successful in gaining language that provided new hire employees with companyprovided life insurance after leaving the company. New hire workers with 10 or more years of seniority, and who are at least 55 years of age at the time of separation from the company, will now be eligible for continuation of $15,000 in basic life insurance coverage and $7,500 in extra accident coverage. Work-related death benefits will be based on extra accident insurance at $22,500.
Health Care improvements for new hire workers
After much resistance from the company, the UAW was able to negotiate major benefit improvements to the new hire health care program,
including:
- Unlimited $25 co-pay office visits.
- Annual wellness physicals.
- No emergency room or urgent care center co-pay for new hire employees.
