SIU members on the Great Lakes have overwhelmingly ratified a new 10-year contract between the union and American Steamship Company (ASC). Highlights of the new agreement include:
- A $2,500 ratification bonus paid to all employees working for the company at the time the contract was ratified;
- A 6% across-the-board wage increase (with a 2% increase retroactively effective March 11, 2024, and another 4% increase retroactively effective April 15, 2024), and significant wage increases effective each subsequent year of the agreement which includes an annual cost-of-living escalator tied to the Consumer Price Index (CPI);
- Enhancements to the Seafarers Vacation Plan benefit with one additional day added in 2025 and one more additional day added in 2027;
- Increases to Seafarers Money Purchase Pension Plan (SMPPP) benefit contributions over the life of the agreement, effective in 2025, 2027, and 2030;
- Maintains Core-Plus (top level) coverage for health and pension benefits under the Seafarers Health and Benefits Plan;
- An enhanced and modernized grievance procedure.
SIU Vice President Great Lakes and Inland Waters Bryan Powell stated, “This is a good contract, providing respectable wage increases and other enhancements for the crew members working for ASC. It provides long-term stability and predictability, and it should help attract and retain qualified mariners.”
SIU Secretary-Treasurer Tom Orzechowski added, “Congratulations and a job well done by the Great Lakes negotiating team. It’s great to see the contracts moving forward and that they provide enhanced wages, vacation, SMPPP as well as keeping the top-tier medical coverage.”
###
Comments are closed.