By: Diane Benjamin
I’ve received some of the details the union employees agreed to today with Mitsubishi. Approval for the plan was overwhelming.
Long time employees with be eligible for 16 months of insurance coverage. Coverage decreases on a sliding scale for employees with fewer years of service.
Employees 54 years old and higher will be allowed to collect a full pension immediately.
Other employees will receive between $5,000 and $30,000, depending on the length of service. Employees opting to take full retirement won’t receive large amounts because the pension they will receive serves as their compensation.
I believe there is a signing bonus, on a sliding scale, for approving the contract.
Since I have nothing in writing, some of this may be slightly off. Employees seem to be about as happy as possible under the circumstances.