SUPPLEMENTAL BENEFITS  Pensions/Retirement Plans  Vacation/Holidays  Health Care  Insurance  Other Benefits

PENSIONS  Inland Steel Case – must bargain  Defined benefit v. defined contribution  Contributory v. noncontributory  Funded v. non-funded  Vesting

PENSION LEGISLATION  ERISA – Employee Retirement and Income Security Act – 1974  Stemmed misuse of funds  Created PBGC  Pension Protection Act of 2006  Rules and requirements for employer pension plans  Further secured pension rights

OTHER BENEFITS  Paid Vacation  Holidays  Health and Welfare Insurance  Severance Pay  Reporting Pay  Supplemental Unemployment

OTHER BENEFITS  Severance Pay  Reporting Pay  Supplemental Unemployment Insurance

ISSUES TO CONSIDER  Increase in Grievances  Automatic Cost Increases  Employee Participation  Cost Prohibitive  Entitlement