|Industry Average||Old Contract||New Contract|
|Wages (Hourly)||$18.38||$18.32|| |
1st yr - $20.00 **
|Attendance Bonus||Varies||$125 every 320 consecutive hours worked|| |
$75 for initial 160 consecutive hours worked with no unexcused absence.
Each employee could earn an additional $1,040 under this program.
|Shift Premium||Varies||60¢/ hour||80¢/ hour|
|Monthly family health care premium per employee||$252/ month||$144/ month|| |
|Percent of Healthcare cost to employee||33%||20%||20%|
|Retirement Plan Benefits||Vary||65% multiplier||70% multiplier|
|Retiree Health||Generally not covered||Current retired employees pay $175/ month for five years after they retire|| |
Current retired employees continue to pay $175/ month for five years after they retire.
For employees who retire after the effective date of the new agreement, the retiree's share of the monthly premium will be set at $255 for the life of the new agreement.
In the event of a retiree's death prior to the end of the five-year eligibility period, the surviving spouse may continue coverage for the balance of the five year period, at the same monthly rate.
|Length of Contract||Varies||4 years||3 years|
|Vacation and Paid Holidays||9 paid holidays with a maximum of 160 hours of vacation||12 paid holidays with a maximum of 168 hours of vacation|| |
12 paid holidays with a maximum of 168 hours of vacation
Increase in vacation benefits for 1-4 year employees:
|Work week||5 - 8 hour days||4 - 10 hour days||4 - 10 hour days|
** 9.2% wage increase is one of the largest first year hourly wage increase in the company's history. This initial increase was designed to quickly and directly address the economic impacts of Hurricane Katrina on Northrop Grumman employees.