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Con Edison Media Relations
July 10, 2012
3:30 p.m.


CON EDISON PRESENTS NEW OFFER TO LOCAL 1-2

NEW YORK – The following are highlights of a contract proposal Con Edison presented to leaders of UWUA Local 1-2 today for its 8,000 members employed by the company:

  • Wage increases of more than 10 percent over four years.
  • Further wage increases will be available for employees who have not yet reached the maximum rate of pay in their job title.
  • Maintain current defined benefit pension formulas for all employees hired before July 1, 2012.
  • Apply cash balance defined benefit pension formula for employees hired after July 1, 2012.
  • Increase the “Participating Contribution” (employee contributions that are matched by the company) to the Thrift Savings Plan, or 401(k), that may be elected by employees.
  • Four existing company holidays may be exchanged for a different day off.
  • Employee contributions to health care plans will remain at 17 percent for the first year of the contract, growing to 24 percent by the fourth year.


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