Salary Increases
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Salary Increases
OLOG WAGE INCREASES AND HEALTH BENEFIT IMPROVEMENTS
WAGES: The OPEIU, Local 107 contract is of a four year term. In the first year of the contract the pilots will receive a 24% wage increase, effective May 24. They will receive an additional 3% wage increase in the second and third years, and an additional 5% wage increase in the last year
Additionally, all pilots will receive a $600 per year of service signing bonus.
HEALTH BENEFITS: Before their contract OLOG pilots were paying a co-payment of $88 per month for their medical benefits. This has been reduced to $10 per month. They also have several other improvements in their medical plan, such as an increase to $250,000 in ADD insurance, and a substantial decrease in out of pocket expenses for family and individual coverage.
RETIREMENT: Before their contract OLOG pilots received a 3% dollar for dollar company match to their 401 (k) savings plan. Now each Pilot will receive an annual employer basic contribution of 3% regardless if a Pilot contributes or not. Pilots that contribute 3% will receive an employer match of 3% plus a 3% annual basic contribution bringing the total contribution to 9%.
WAGES: The OPEIU, Local 107 contract is of a four year term. In the first year of the contract the pilots will receive a 24% wage increase, effective May 24. They will receive an additional 3% wage increase in the second and third years, and an additional 5% wage increase in the last year
Additionally, all pilots will receive a $600 per year of service signing bonus.
HEALTH BENEFITS: Before their contract OLOG pilots were paying a co-payment of $88 per month for their medical benefits. This has been reduced to $10 per month. They also have several other improvements in their medical plan, such as an increase to $250,000 in ADD insurance, and a substantial decrease in out of pocket expenses for family and individual coverage.
RETIREMENT: Before their contract OLOG pilots received a 3% dollar for dollar company match to their 401 (k) savings plan. Now each Pilot will receive an annual employer basic contribution of 3% regardless if a Pilot contributes or not. Pilots that contribute 3% will receive an employer match of 3% plus a 3% annual basic contribution bringing the total contribution to 9%.
