SEIU, Schwarzenegger agree to labor pact with pension concessions
Jon Ortiz | Sacramento Bee
Oct. 7, 2010
The Schwarzenegger administration and Service Employees International Union Local 1000 have just announced a tentative labor agreement that includes higher employee contributions to their retirement plans and rolls back pension formulas for new hires to pre-1999 levels.
Under terms of the pact, current workers would kick in an additional 3 percent of their pay toward their pensions. Union negotiators also agreed accept one day of unpaid leave per month for a year, which cuts employee pay and hours by roughly 5 percent per month. In exchange, workers covered by the agreement wont be subject to furloughs that lawmakers might impose during that period.
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