|Members of IAM Local 862 hold ratification meeting in which they approve a new three-year contract with power transmission-maker Hub City, Inc. in Aberdeen, SD.|
Members of IAM Local 862 have ratified a new three-year contract with power transmission-maker Hub City, Inc. in Aberdeen, SD.
The agreement contains wage increases of 29 cents per hour the first year, 39 cents the second year, and 40 cents the third year – plus starting wage increases and a 10 cent increase in shift premiums for second and third shifts. Improvements in the 401k plan included a dollar for dollar company match on the first one percent, and a 50 cent match for every dollar on the next five percent. The contract maintains the cost share on health insurance at 17 percent the first year, 18 percent the second year, and 19 percent the third year.
Additional improvements include a decrease in cost for long term disability, a $2,000 company-provided life insurance and AD&D increase, 8-hours additional vacation for those who have 35+ years of service, changes to vacation language which no longer requires a five-day “block,” and layoff language which gives displaced employees an opportunity to freeze current wages for six months.
“The committee worked very hard to get improvements and hold on to current language for the membership,” said IAM District 5 Directing Business Representative Dennis Mendenhall. “Thank you to the membership for your solidarity on the shop floor during these negotiations. I also would like to thank IAM Midwest Territory Special Representative Tony Wickersham for all his help and advice.”
“Congratulations to the members of IAM Local 862 on the ratification of your new agreement,” said Philip J. Gruber, IAM Midwest Territory General Vice President. “And job well done to the entire bargaining committee and IAM District 5 Directing Business Representative Dennis Mendenhall.”