Local 12 Wage Rate Member Information

SOME IMPORTANT INFORMATION YOU SHOULD HAVE

The Local 12 contract over the last 12 years has increased far above what inflation has been.  If the Local 12 increases over the past 12 years had only matched inflation, the contract rate would be $75.53.  The contract rate far exceeds that and is now $95.17.

The annuity benefit that Local 12 has secured for you is very generous.  With no increase in the current contribution rate ($9.60/hour), a 25 year old Local 12 member working since age 21 who retires at age 60 can expect to have almost 3 MILLION dollars in his annuity when he retires (at current rates)!

That means a monthly, pre-tax income of $19,589 in today’s dollars if the annuity stays AS IS! And that does not include your separate, additional pension benefit or Social Security!

Union Raises vs. Inflation Analysis

Beginning Union Contract Analysis January 1, 2002 to June 30, 2002    $ 57.42


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UNION RAISES AT INFLATION

The Union contract on January 1, 2002 to June 30, 2002 was $57.42 per hour and the Union raises over the past 12 years have risen by $37.75 compared to $18.11 at the rate of inflation.  The difference between the Union raise and the rate of inflation is 26.0%.

More Information

Local 12 Annuity Projections - Five Additional Scenarios

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