Academic journal article Monthly Labor Review

Contracts at Insurance Firms

Academic journal article Monthly Labor Review

Contracts at Insurance Firms

Article excerpt

After protracted contract talks, CUNA Mutual, a bond insurance firm, and Local 39 of the Office and Professional Employees International Union negotiated a 3-year contract that requires bargaining unit employees to pay part of health insurance premiums for the first time--$5 to $15 a month for health insurance benefits and $2 to $6 a month for dental benefits. The settlement, which covers 1,768 employees in Madison, wi, does, however, provide employees with the option to choose among seven health care plans, including four health maintenance organization plans and three indemnity plans with different levels of benefits and costs.

The agreement calls for annual 4-percent wage increases, additional annual increases of up to 5 percent depending on the company profits or workers' attainment of certain quality goals, and $400 bonuses in May 1995. At the expiration of the prior agreement, average annual salaries reportedly were 17,000-$58,000 for administrative and professional employees, $15,000-$40,000 for building maintenance workers, and $15,000-$32,000 for clerical workers.

Other terms clarify application of the federally mandated Family and Medical Leave Act, make several improvements in long-term disability coverage, and establish joint committees for specified workplace issues. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.