Verizon Regional Bargaining Report # 28

After several days of intensive review and drafting, the Union Bargaining Committee presented a Comprehensive Proposal today to address the outstanding issues on the table as a package. The Proposal included the withdrawal of previous proposals by both sides and set forth provisions for both economic and non-economic subjects which CWA and IBEW believe can be the basis for a settlement.

In order to maintain and improve health benefit levels for both active and retired members the Unions offered a Medicare Advantage plan for retirees along with restrictions on compound drugs in the prescription plan that will save the Company tens of millions of dollars. The package also included significant increases in pay, greater job security, and protection of pension benefits.

The Unions characterized the Comprehensive Proposal as a major step forward and expressed hope that the Company will respond in a way that will help to produce a settlement in the near future. The parties will meet again tomorrow.