Clear Path to Traditional Wages for In-Progression Members: All current in-progression members will be paid traditional wages within eight years. In-progression employees with four years of service will be paid traditional wages by the end of this contract – that’s more than $10 per hour in wage increases. In-progression members with two years of service will receive more than $8 per hour in base wage increases by the end of the contract.
First General Wage Increases in 9 years for Traditional Members: With two 3% wage increases and two 4% lump-sum bonuses, traditional workers will be taking home an additional $20,000 over the next four years.
Health Care Unchanged with No Premiums for All Members: UAW-FCA members will continue to pay no premiums for their healthcare, even as American workers at large employers pay an average of $1,648 in premiums for single coverage and $5,388 in premiums for family coverage.
A Bigger Piece of FCA Profits with Improved Profit-Sharing: Our profit sharing pool will be funded based on the new formula of $800 for every 1% in North American profit margin. This profit sharing pool will be paid out based on each UAW-FCA member’s uncapped compensated hours. In other words, the more hours you work, the bigger your share of the profit sharing pool will be.
$3,000 and $4,000 Ratification Bonuses Secured: As soon as the contract is signed, traditional members will get a $4,000 up-front lump sum bonus and in-progression members will get a $3,000 payment.
401(k) Contribution Rate Raised to 6.4% for In-Progression Members: In-progression members will get more retirement security in this agreement. Thanks to an increase in the 401k contribution rate to 6.4% and large wage increases, FCA will be putting significantly more money into in-progression members’ 401k retirement savings funds.
$1.7 Billion in Pension Funding: Anticipated cash contributions of $1.7 billion from FCA.
$5.3 Billion in New U.S Investments and Moratorium on Outsourcing: With commitments from FCA to fully utilize and invest in US facilities, job security is strengthened and job growth promised.
Increased Dental and Vision Benefits for In-Progression Members: In-progression members will now be eligible for annual routine oral exams and cleanings after one year, and vision exams every 24 months after attaining seniority.