IBEW Local 1245
23 March 2009
Retired 12/31/93 or earlier
- Retiree only or survivor only: retiree or survivor pays $150/month (or current premium
- co-pay if lower) for medical coverage of their choice.
- Retiree and spouse: retiree pays $300/month (or current premium co-pay if lower) for
- medical coverage of their choice.
- Provision: Payment not to exceed cost of premium.
Retired Since 1/1/94
- Retirees with 25 YOS or more or survivors of retirees with 25 YOS or more:
- Retiree/survivor contribution 35% (or current percentage of premium co-pay if lower) pre-65, 50% age 65 and older
- Prorated for levels of service between 10 and 25 YOS
- Continue use of blended rate
- Employer subsidy subject to hard employer cap ($20,000/$5,000 for employee or survivor only; $40,000/$10,000 for employee plus spouse.
All existing retirees
- Maintain RPOA-50 and RPOA-25
- New PPO plan
- Wellness Questionnaire same as active employees
- Out-of-state Kaiser as option
Sick Leave Conversion
- $1 for $1 cash-out at retirement, including nuclear premium
- Any hours exceeding maximum allowed, including bonus sick leave, to RMSA $1 for $1
- Allow unlimited accrual after age 55, with cash-out at retirement including nuclear premium or RMSA at employee’s choice
- Increase company match to $.75 per $1.00
- Increase matching to 10%
- Immediate full participation and match
- Automatic enrollment upon hire, notice, opt-out option
- Separate accounts established for employees and spouses
- Annual allocation per year of service beginning at 10 years of service or age 45, whichever occurs earlier, for both employee and spouse ($7,500) and increasing for both employee and spouse ($10,000) per year of service at 20 years of service or age 55, whichever occurs earlier.
- 8% interest credited to accounts immediately
- Account balances used to pay premiums or plan deductibles/co-pays for PG&E sponsored retiree medical coverage. Maximum annual account drawdown for both pre-
- and post-65 is 75% of plan premium, unlimited for other medical costs.
- Opening balances based on service worked.
- Employee retiring prior to 2020 will have option of existing plan or RMSA.
- 1.65 times gross for all years of service.
- Wellness Questionnaire
- Additional PPO option
- 100% survivor option if employees dies in active service
- All Kaiser as option
- Add Kaiser Optometric Plan for Kaiser members
- Regular status employees (6 month service) with less than one year service may take accrued earned vacation