State's largest electric utility has new contract with workers
RUTLAND, Vt. Vermont's largest electric utility has reached a new contract with its unionized workers.
The members of the International Brotherhood of Electrical Workers Local 300 ratified the new contract with Central Vermont Public Service Corporation yesterday.
Of the company's 540 workers, the new contract covers 221 unionized employees and takes effect at midnight tomorrow.
The four-year contract provides an annual three-and-a-half percent pay increase from 2005 through 2008.
The company agreed to increase its match for 401(k) contributions from four to four-and-a-quarter percent in 2007. Union employees will pay more for health care contributions, co-payments and prescription drugs.
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