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.