Includes cost-of-living adjustments, improves a number of benefits
The agreement between Essar and USW Local 2251 in Sault Ste. Marie maintains cost-of-living adjustments and improves a number of benefits. The contract term is from Aug. 1, 2013 to July 31, 2016.
USW Local 2251 members will see increased coverage for visits to chiropractors, osteopaths, podiatrists and naturopaths, as well as an increase in lifetime major medical coverage for active employees and retirees. Retired steelworkers will also see increased reimbursement for the cost of glasses and hearing aids.
Along with cost-of-living adjustments, employees will receive a lump-sum payment in the second year of the contract and wage increases in the third year of either two per cent or three per cent — depending on the steelmaker's adjusted annual income.
The agreement outlines the company's commitment to a defined benefit pension plan and provides four "windows" for retirement during the life of the contract.
