Verizon 4Q17 Surplus Declaration & Special Enhanced Income P

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Verizon 4Q17 Surplus Declaration & Special Enhanced Income P

Postby TX Employee on Wed Oct 04, 2017 7:47 pm

Verizon 4Q17 Surplus Declaration & Special Enhanced Income Protection Plan (EIPP)
http://local1101.org/story/verizon-4q17 ... -plan-eipp

Verizon is declaring a surplus condition in 24 titles in Force Adjustment Areas 1-6. In addition the company is declaring a surplus of Central Office Technicians and Representatives in the Manhattan Article 8 Units. This surplus is due to process change and the provisions of the respective FAP Articles 8(b) and 10 will not apply in this case.

CWA Local 1101 is located in FAA 1. The surplus titles in FAA 1 are as follows: Accounting Financial Clerk (2); Administrative Assistant (17); Building Servicer (2); Coin Telephone Collector (12); Drafter (2); Engineering Drafter (2); Facilities Specialist (1); Network Service Coordinator (8); Office Assistant (8); Senior Administrative Assistant (14); Special Assistant (9); Special Representative (7); Translations Administrator (1). Article 8 Manhattan Central Office Technicians (5), Representatives (7). For surplus declaration and the list of titles in FAAs 1-6, click here.

If the Company uses the Enhanced Income Protection Plan (EIPP) under step three (3) of the FAP Article to alleviate the surplus, the Company will make Special EIPP offers to associates as described in Section XIV of the May 29, 2016 Memorandum of Understanding. Special EIPP offers will be tendered to those employees int he surplus titles and FAAs/Units involved by October 10, 2017. An employee's election to leave the service of the company and receive Special EIPP payments must be in writing and transmitted to the Company within 15 days of the offer, in this case October 24, 2017. The off-payroll date for employees who accept the offer will be November 5, 2017, or possibly a later date, to be selected at the discretion of the company, no later than May 5, 2018.
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