Tentative Contract Announced

Internal Business - Tentative New Contract Announced

On July 3, our fearless leader, Local 3357 President Mike Forbes, announced that the negotiating committee has reached a tentative new contract with UAW-LSP management. Given that these negotiations have taken place in the context of some of the worst financial news to hit the domestic auto industry in our lifetimes, the Committee really deserves a lot of credit. I don't know any more than Mike disclosed in his letter, available on the afscme3357.org website. A raise, no healthcare givebacks, and perhaps more importantly, quarterly 401k contributions rather than yearly. If your 401k is updated in down markets like the one we have now, and if the market picks up, there is room for a lot of appreciation. Of course, if the market keeps going down, well .... Stop it. I don't want to think about it. With this year's market, my 401(k) looks more like a 200.5(f).