Utility Workers Union of America
Local 600
AFL-CIO
Representing Office, Clerical,
Technical and Residual Employees
Utility Workers Union of America
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FOLLOW-UP QUESTIONS
1) For employees leaving 12/31/06, is the last paycheck in 2006 or 2007 earnings? It would be in 2007 earnings. Unused vacation and banked vacation will be on that check and also be 2007 earnings. However, it will be included in final average pay for retirement calculations regardless of when it is paid. 2) Can you roll your banked vacation into something like an IRA? No. Banked vacation is taxed and distributed to you as normal pay. You can do what you want with the net. 3) Did we hold back a week when the UWUA employees were hired and being paid on a weekly basis. No. Depending on the timing of when you were hired and the date of paychecks, it may have felt like it, but we did not. 4) Can you direct deposit your retirement check? Yes. Mellon is currently our retirement administrator and when you initiate your retirement with the ipeople center, they will get that set up for you if you so desire. 5) Is banked vacation subject to 401k deductions? Yes. Meeting Held at Queensgate 1. Do I need to make benefit elections during the normal annual enrollment period? Yes, you should participate in this process as you normally would. 2. If there are changes made to the pension program after I leave the company, will this also affect me whether I start my pension right away or defer until I reach the 85 points. No, any changes made to the programs after you leave the company regardless if you start your pension right away or grow into your 85 points, will not affect you. 3. If I am employed on 12/31/06, will I be eligible for an incentive check for the performance period Jan. 1 - Dec. 31, 2006. Yes. 4. If I retiree and want to continue to use the fitness center at my prior company location, can I do so? You will need to check with your local fitness center committee on this. 5. Do we ever round up years of service for severance, 85 points or pension calculations? No, the current severance program that is being offered does not round up for years of service. The 85 point rule also does not round up. When figuring a pension calculation actual years and months are used in the calculation. For example, if I my hire date is 12/1/60 and I retire on 12/31/06 the years of service used for pension calculation would be 46.1. 6. Do we have any corporate guidelines in place for the amount of money a department may spend on retirement coffees? |
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