TCU workers on CSX Intermodal have overwhelmingly ratified a new contract by a resounding 96% margin.
The new agreement mirrors the recent national freight agreement’s economic provisions, providing 20.1% in compounded general wage increases over the six year contract period – January 1, 2010 through December 31, 2015.
In addition to the general wage increases, the agreement provides for a lump sum payment equal to 1% of straight time earnings for the twelve-month period from November 1, 2010 through October 31, 2011. The 1% will be calculated after the July 1, 2010 and July 1, 2011 general wage increases have been applied.
Over the life of the contract the agreement will generate on average an additional $22,178.00 per member. This figure does not take into account overtime hours.
Full retroactive pay will apply from July 1, 2010. The average retroactive payment and lump sum will be $2500.00.
The existing CSX Intermodal health plan will remain unchanged.
“In today’s economy, this contract’s wage gains – 20.1% over six years and a 1% bonus, together producing more than $22,000.00 in additional straight time compensation – are truly outstanding,” said TCU President Bob Scardelletti. “The resounding membership vote in favor is testament to their appreciation of the value of TCU representation.”