Guild reps and Monterey Herald negotiators reached a tentative agreement Tuesday on a matching contribution by the company to the 401(k) plan. Under the agreement, the company will match 50 cents for each dollar contributed by employees, up to a maximum contribution by the company of 3 percent of an employee's salary.
In Tuesday's talks, the Guild also put forward two amended proposals:
1) The first proposal would link mileage reimbursement to 90 percent of the IRS rate, which now stands at 50.5 cents per mile. Under the proposal, any employee required by the company to have a car available for work would receive the greater of $25 per week or the actual value of mileage reimbursement.
2) The second proposal would require the company to pay two weeks of severance for each year of employment to any employee laid off by The Herald, with a minimum of four weeks and a maximum of 16 weeks. Severance would be paid for service from August 24, 1997, when Knight-Ridder acquired The Herald.
Herald Guild reps and the rest of our negotiating team are continuing to press for reasonable gains in the ongoing talks.
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