Definition table for collective bargaining exercise.docx - MGMT 300 Collective Bargaining Exercise Definition table Term Co-Pay Cost of Living

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Unformatted text preview: MGMT 300- Collective Bargaining Exercise Definition table Term Co-Pay Cost of Living Allowance (COLA) Health Maintenance Organisations (HMO) Preferred Provider Oganization (PPO) Definition A type of insurance policy where the insured pays a specified amount of out-of-pocket expenses for health-care services such as doctor visits and prescriptions drugs at the time the service is rendered, with the insurer paying the remaining costs. Periodic increase in salaries to compensate for increases in inflation rates. COLA increases may be in addition to other salary increases provided for productivity increases. (in the US) an organization which provides health care on the free market in return for a predetermined fixed insurance premium. A type of health plan that contracts with medical providers, such as hospitals and doctors, to create a network of participating providers. You pay less if you use providers that belong to the plan’s network. You can use doctors, hospitals, and providers outside of the network for an additional cost. Profit Sharing Plan (PSP) A plan that gives employees a share in the profits of the company. Each employee receives a percentage of those profits based on the company's earnings. Reassignment Pay Protection Plan An arrangement to ensure that workers in cases where there have been significant work redesign resulting in redundancies are no worse off when redeployed for a fixed period of time to allow readjustment to occur. An example of a plan: 30. If, because of work force adjustments, employees are reassigned to vacancies where the rate of pay of the new job is less than the current rate of pay of the employee's regular job, unless mutually agreed otherwise, the employee shall receive a lump sum payment based upon the difference in the basic weekly wage rates of the Page 1 of 2 provisions until the employees' Reassignment Pay Protection Plan benefits terminate. 30.31 If, because of work force adjustments, employees are reassigned to vacancies where the rate of pay of the new job is less than the current rate of pay of the employee's regular job, unless mutually agreed otherwise, the employee shall receive a lump sum payment based upon the difference in the basic weekly wage rates of the employee's old and new jobs. For a part-time employee, the lump sum payment shall be based upon the employee's old and new jobs. For a part-time employee, the lump sum payment shall be based upon the difference in the basic hourly wage rates of the employee's old and new jobs times the difference in the basic hourly wage rates of the employee's old and new jobs times the employee's part-time employee's part-time equivalent work Such sum payments willwith be computed equivalent work week. Such lump sum week. payments will lump be computed in accordance the following schedule: in accordance with the following schedule: Subcontracting Term of Employment Amount of Payment Less than 5 years 5 years but less than 11 years 11 years or more Employees with 15 or more years of service whose reassignments are due to technological change 8 weeks difference in pay 34 weeks difference in pay 60 weeks difference in pay 164 weeks difference in pay a person business that contracts to provide some servicebeorreduced materialtonecessary (A) who Uponor reassignment, the employee will immediately the basicfor the performance of another's contract in exchange for a fee. weekly wage rate of the new job and the lump sum payment will be made to the employee within sixty (60) days of the date of reassignment. (B) If an employee has received a lump sum payment and is subsequently upgraded and the number of weeks since the date of the reassignment is less than the number of weeks of pay upon which the total payment was based, the amount paid to the employee for the excess number of weeks shall be repaid to the Company in either a lump sum or through authorized payroll deductions at the rate of fifteen percent (15%) of the employee's basic weekly wage rate until the amount of excess is repaid. Relocation 30.32 A regular employee transferring at Company request to a new Report Location which is thirty-five (35 ) or more road miles by the most direct route farther from his/her principal residence than was the old Report Location, shall be eligible for treatment under the Relocation Plan. Page 2 of 2 ...
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