Fiscal Note
This new 3-year labor agreement includes the following wage increases: 2% in December 2011, which will cost about $400 in 2011 and result in additional annual costs of approximately $6,300 beginning in 2012; 2% in December 2012, which will cost about $400 in 2012 and result in additional annual costs of approximately $6,400 beginning in 2013; and 3% in December 2013, which will cost about $600 in 2013 and result in additional annual costs of approximately $9,800 beginning in 2014. This new agreement differs from the current agreement by reducing the December 2011 raise from 3% to 2% (a savings of about $200 in 2011 and $3,400 annually) and adding the December 2013 raise. Funds are available in the 2011 budget to cover current year costs.
The agreement also requires the employees to pay a portion of the health insurance premium as detailed in the agreement. The employee portion is 6% beginning in January 2013 and 12% beginning in January 2014. This results in an estimated savings to the City of $4,100 in 2013 and an additional savings of $4,100 in 2014, for a total future estimated annual savings of $8,200.
The agreement also adds a requirement for members to pay one-half of the total Wisconsin Retirement System contribution beginning in January 2012, which results in an annual savings to the City of about $16,600.
Title
Adopting and Confirming the Labor Agreement between the City of Madison and the Building and Construction Trades Council of South Central Wisconsin and its Appropriated Affiliated Locals for the period March 10, 2011 to March 9, 2014.
Body
DRAFTER’S ANALYSIS: This ordinance adopts and confirms the Labor Agreement between the City of Madison and the Building and Construction Trades Council of South Central Wisconsin and its Appropriate Affiliated Locals from March 10, 2011 to March 9, 2014.
**********************************************************************************
The Common Council of the City of Madison do hereby o...
Click here for full text