Feb 15, 2013
The CWA, IBEW and Alcatel-Lucent have signed an agreement that extends 2004 Postretirement Medical and Dental Benefits and the Group Life Insurance Plan for Retired Employees from its current December 31, 2014 date through to December 31, 2016!
In exchange for this extension, the Unions have agreed to provide $40 million a year for 2015 and 2016 from the Taft-Harley trust which reduces the Company's subsidy by $80 million. Those who administer the fund believe this will not negatively impact our ability to subsidize this benefit in the future. This takes a tremedous burden off the shoulders of our retirees and their families.