Guild pay raises coming on July 6; lump sum payments to follow

Bi-weekly paychecks issued on July 6 will reflect a 1.5 percent across-the-board general wage increase that takes effect on July 8, the Guild has been informed by Thomson Reuters. The wage increase was negotiated by the Guild as part of the three-year contract that was ratified last July.

The 1.5 percent hike, which raises the contract’s pay scales as well as individual salaries, will affect only half of the July 6 paycheck, which covers the July 1-14 period. It is the second of three negotiated pay increases. The third increase, also 1.5 percent, will kick in on the second anniversary of the contract’s ratification date – July 8, 2013

This increase is in addition to the raises that most Guild-covered employees received in late March or early April, which were entirely at management’s discretion.

The July 6 paychecks will not include the distribution of this year’s $2.4 million lump sum payment that is also part of the new contract. That will come later. First, the Guild will need a snapshot of Guild-represented employees on the payroll on July 8, 2012. Then, calculations will be made to determine the pro-rated share for part-time employees and employees who were on the payroll for less than the entire July 9, 2011 – July 8, 2012 period.

Here is the relevant contract language, Article VIII, Section 3(e):

With regard to the lump sum payments to be paid on July 8, 2012, July 8, 2013 and on July 7, 2014 the last day of the term of this Agreement, each employee on payroll as of the relevant payment date who completed at least ¾ of the year leading up to that payment date shall receive a share (Share) equal to the that year’s total payment divided by the number of bargaining unit employees. Each employee on payroll as of the relevant payment date who completed at least ½ but less than ¾ of the year leading up to that payment date shall 75% of a Share. Each employee on payroll as of the relevant payment date who completed at least ¼ but less than ½ of the year leading up to that payment date shall receive 50% of a Share. Each employee on payroll as of the relevant payment date who completed less than ¼ of the year leading up to that payment date shall receive 25% of a Share. Part-time employees shall receive a pro rata payment – i.e., a 50% time employee shall receive a 50% payment, a 70% employee shall receive a 70% payment

Guild-represented employees who are on the payroll as of July 8 (the relevant payment date) and were in their Guild-represented jobs for the entire period will receive the highest share of the total. We’ll keep you posted on the per-employee share amount and the distribution date as soon as it’s been worked out with the company.

The remaining $2.8 million in the contract’s lump sum payments will be distributed on the next two anniversaries of the contract’s ratification date, with $1.8 million to be paid in 2013 and $1 million to be paid on the last day of the contract in 2014.

Paper paystubs to be discontinued

The company recently notified the Guild that the practice of mailing paystubs home will be discontinued as of the July 20 pay period. Employees’ current paystubs and a full year of previous paystubs have been and will continue to be available for viewing (and printing) on The Point. After logging into The Point, paychecks can be found in the left-hand middle of the screen under the link, “my paycheck.”  The Point can be accessed from any internet connection.

In addition, the Thomson Reuters HR Services Center at 1-866-443-6947 is supposed to be able answer questions. Representatives are available from 8 a.m. to 9 p.m. EDT, Monday through Friday.