2010 Pension, 401, Retiree Benefits Increases

Increase in per year of service benefit from the current $25.00 to $32.00 on or after January 1, 2009  (a 165% increase since 2001 when the rate was $12.00 per year of service)

Increase the 401 retirement contribution from the current $.57 to $1.00 effective the first payroll period in January 2010.

Increase all retiree monthly payments by 5% in pay status as of December 31, 2008.

Give all retirees an additional check for Christmas with a minimum of $350.00 in pay status as of December 31, 2008.