Verizon Regional Bargaining Report # 25

After spending several days reviewing and analyzing various proposals, the Regional Bargaining Committee met with management today in an effort to move negotiations forward.

The Union expressed a willingness to work with management on a new Retiree Medical plan that would save the Company millions of dollars, but emphasized that retirees must not be adversely impacted. A number of counter proposals and modifications by the Union were also passed across the table dealing with Medical Restriction, continuation of the Pension Cash-Out Option, Holidays, Supplemental Pension Benefits, Dependent Eligibility for Health Benefits, and Diversification of 401(k) Investments. The Company returned in the afternoon and rejected most everything the Union had offered, while countering on a handful of other issues.

Turning to health benefits, the Committee pointed out that the Union has reduced the Company’s medical costs in recent years, thanks largely to negotiated changes in the plan design. Despite this, management continues to insist that employees take on a larger share of the overall costs. The meeting adjourned for the day without producing any agreements on the major issues. At this point there are no formal meetings scheduled with the Company while the Union awaits outstanding information requests on some of the major issues still on the table.