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4-Year Contract

September 1, 2022 through September 1, 2026
Last Updated: 09/29/2022

 


$4,000 in Guaranteed Pre-Tax Cash Payments
  • $4,000 lump sum “Essential Employee Appreciation Bonus”

*Subject to reduction by applicable taxes


No Changes to the Current Un-Capped Profit Sharing Plan
  • Continued, un-capped profit-sharing
  • 7.5% on profits between $10 and $50 of Profit per Ton Shipped
  • 15% on profits above $50 Per Ton Shipped

Nearly 15%* Guaranteed Base Wage Increases Over Life of Contract**
  • 4% increase in year 1
  • 3% increases in years 2 and 3
  • 4% increase in year 4

  *Compounded total increase over 4-year contract
**In addition to the protections provided by the Inflation Recognition Payment language in the Contract

Excellent Retirement Benefits
  • Automatic 401(k) enrollment to encourage employees to save for retirement (employees can opt out at any time)
  • No changes to retirement benefits for those eligible to participate in either the SteelWorkers Pension Trust (SPT) or our fully funded pension plan

 


Competitive Retiree Healthcare
  • No changes to plan design or monthly premiums for those eligible for the Retiree Health Program (RHP)
  • Continued $0.65/hour contributions to the Retiree Healthcare Account for employees hired after 2015

Active Health Insurance Coverage With No Premiums
  • Continuation of the current health insurance plan design including no increase in deductibles or out-of-pocket maximums.
  • Implement a cap and recover plan that will keep healthcare costs at 2022 levels. If costs rise, U. S. Steel and USW will work together to offset costs.
  • No change to the dental and vision plans.

Continued Investment in USW-Represented Facilities
  • $1B capital investment commitment over time of contract (2022 - 2026)