TCU Freight Rail Members Receive COLA

TCU Freight Rail Members Receive COLA

Effective July 1, 2005, those TCU members employed by the freight railroads signatory to the National Agreement will receive 15 cents per hour Cost Of Living Adjustment (COLA) increase in their wages.  This COLA will be an average pay increase of $29.00 per month. 

Monthly contributions toward health and welfare premiums for these same members will rise from $91.32 to $97.43 effective July 1, 2005. The arbitrated agreements implementing the Harris award that settled the last round of bargaining for the Clerks and Carmen stated that employee cost-sharing contributions for July 1, 2005, would be increased by the lesser of either (a) one-half of the increase in the Carriers’ 2005 monthly payment rate for medical insurance over their monthly payment rate in 2004; or (b) one-half of the value of the COLA put into effect on July 1, 2005.

The Carriers’ monthly payment for medical insurance increased by $14.32 in 2005, which is less than the amount produced by the COLA. One-half of that increase is $7.16; however, the $7.16 figure was adjusted downward to take into account employees who have opted out of coverage under the medical plan. This resulted in a $6.11 monthly increase for TCU members.

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