Entergy and a union representing workers at its Pilgrim nuclear plant in Massachusetts reached a hard-fought contract agreement over the weekend, with the Utility Workers of America Local 369 voting to accept a new four-year contract Sunday night.The agreement ends three months of negotiations and what unionized workers described as a lockout in place since June 6 when they were escorted from the plant and replaced with workers from elsewhere in Entergy's nuclear fleet. About 250 of the plant's 650 regular employees are members of the union. It had voted down previous offers over issues that included pay, safety, scheduling and healthcare premium increases.In a prepared statement, union President Dan Hurley said: "We are pleased that our workers have voted to accept Entergy’s latest contract offer. These have been lengthy and difficult negotiations for our workers, who have been locked out of their jobs for over a month and without medical coverage since the beginning of July. Entergy began negotiations with demands for major concessions on healthcare, retirement, salary and staffing, and we fought hard to emerge with important protections for the hardworking men and women who safely run Pilgrim nuclear power plant on a daily basis."The Quincy Patriot Ledger quoted Pilgrim Site Vice President Roger Smith as saying the agreement provided guaranteed wage increases and benefits that included a “premium health care plan, a company-matching 401(k) savings program, a defined benefits pension plan and a union incentive plan.”
If you retired from GM after October 1, 1997, you know that your pension option decision time is coming to a close. On June 1, General Motors announced their plan to lessen their pension liability by approximately 26 billion dollars. This leaves you with the power to choose between a one-time lump-sum payment, continuing with your current monthly payment, or taking a new form of monthly benefit. You need to decide which option you'll go with by July 20, 2012. Before you do, it's important to understand the complexity of each and every option so that you can choose which is best for you. You can watch this informative video which outlines the three available options by following this link: http://youtu.be/32ZRne7AoTQ. Additionally, it's highly encouraged that you seek the advice of a seasoned financial planner..info for more information.