The newly-ratified contract covering nearly 8,500 IAM-represented workers at the nation’s freight rail carriers is worth at least $30,000 in increased pay over the life of the agreement, according to District 19 President and Directing General Chairman Joe Duncan.
“The tentative agreement provides 20.1 percent in compounded general wage increases,
which will generate about $30,000 for the average Machinist working straight time, with only those working overtime receiving more over the life of the agreement,” said Duncan.
The six-year agreement also contains a one percent lump-sum ratification payment and reduces members’ monthly health & welfare contribution from $229 per month to $200 per month. Under the agreement, the $200 per month contribution will remain frozen for six years.
The agreement, which was unanimously endorsed by the District 19 Bargaining Committee, includes recommendations from a Presidential Emergency Board (PEB) appointed by President Obama to help resolve the long-running contract dispute.