|
Are
You In the Daily Hire 401k?
If you work 100 days in any calendar year as an engineering
daily hire at ABC-TV or WLS-TV you'll receive a Company
contribution to your CWA Retirement Savings and Retirement
Trust account (401k). The Company contribution is 3%
of the employee's straight-time rate of pay for all
straight-time hours worked in the calendar year, payable
to your 401k account on February 15 of the following
year. You do not have to make any voluntary contributions
to be eligible - you just have to work 100 days. However,
it may be to your benefit to make voluntary contributions.
Daily hires who work less than 8 hour days will receive
a pro-rata credit for that partial day towards reaching
the 100 day threshold. All daily hire employees are
eligible to make voluntary contributions into their
401k. For information on how to start making voluntary
contributions, call (800) 352-7954 and ask for a sign-up
packet.
DH
Engineering Work Rules
Shift
Cancellations:
If the Company engages you to work as a daily hire for
a specific date, and then cancels the assignment between
noon and 5 pm of the day preceding the assignment, the
Company must pay you 4 hours if you were scheduled for
an 8 hour shift, and 2 hours if you were scheduled for
a 4 hour shift. If the Company cancels the engagement
after 5pm of the day preceding the assignment, you'll
receive payment for the scheduled shift (4 or 8 hours,
depending upon what you were hired to work.) (Section
A14.2(d))
Short
Shifts:
The Company can hire a daily hire for a minimum of 4
hours per day. Even if you work less than 8 hours, you
still receive the full $40 payment in lieu of benefits,
plus the $10 contribution to your Flex Plan account.
The Company does not have to provide a paid meal period
if you work 6 hours or less. If you are required to
work in excess of 6 hours, the Company has to pay you
for an 8 hour day and provide a paid meal period. (Sec.
A14.2(b)&(c)).
Overtime:
Overtime of 1 � times your regular straight time
rate of pay applies to hours in excess of 8 in any day,
or in excess of 40 in a regular work week. The regular
work week starts 12:01 am Saturday, and ends at Midnight
on Friday. There is no double time penalty. (Sec. A14.2(a))
Daily
Hire CWA 401k Plan
Open
to all NABET-CWA represented daily hires at ABC-TV and
WLS-TV You Have the Opportunity to:
| • |
Make
voluntary pre-tax contributions to your retirement
account (& pay less tax on your current income) |
| • |
Benefit
from tax-deferred growth v Pay no taxes on money
in the Plan until withdrawal** --your earnings compound
and you earn interest without any reduction for
current taxes |
| • |
Decide
where to invest your account, taking advantage of
professionally managed funds |
| • |
Enjoy
a wide range of investment information and opportunity |
| • |
Have
easy access to your account information |
The
CWA Savings and Retirement Trust is the smart way to
save for retirement
Need
more information? Contact Eric Zakarin of UBS Paine
Webber at: (800) 352-7954 If you are already a plan
participant, check out your account on-line www.net401k.com.
**Certain
early withdrawals subject to tax. See plan documents
for details.
Daily
Hire Holidays:
• New Year's Day • Election Day • President's
Day • Veteran's Day • Memorial Day •
Thanksgiving Day • July Fourth • Friday After
Thanksgiving • Labor Day • Christmas Day
Daily
Hire engineers and newswriters and radio program coordinators
receive 1 1/2 times normal pay for working on the above
listed holidays.
|
