Summary of Strike Settlement Offer
Better pension than you have now
- New pension supplement that facilitates early retirement
- Retain current pension formula
- Cost-of-living adjustment (COLA) for service through 12/31/02
- Special Retirement Account starting 1/1/03
Pay increases in excess of recent inflation rate
- Nearly 15 percent compounded during term
- Average base wage rate to top $50,000
- Lineman, other craft base to top $60,000
- Lineman, other craft to top $70,000 on average with overtime
- 3% Northern Virginia supplement in 2005
- Increased shift differential