The Federal Deposit Insurance Corporation announced last week that it had agreed with the National Treasury Employees Union to grant workers six weeks of parental leave starting next year. As part of their agreement, FDIC and NTEU agreed to freeze FDIC`s local salaries at 2005 levels for most areas. NTEU President Colleen M. Kelley said the new agreement, which provides for annual wage increases of 4.2% per year on average with a possible extension until 2010, provides FDIC employees with some of the best, if not the best, compensation package in the federal government.“ 1.The Agency notes that, when the last group of workers was transferred to FDIC at the end of 1995, the parties entered into an agreement that provided that service time was the first Tiebreaker for office transfers. However, this agreement has expired and has not been renewed. 2.The Union does not dispute the employer`s definitions of seniority. The new benefit will be offered under the new FDIC compensation agreement with NTEU, which has not yet been ratified. The FDIC`s budget comes from the insurance premiums of financial institutions and not from congress funds. Under the new compensation agreement, individual salary increases will be linked to the assessment of each employee`s overall performance, including analysis based on criteria for both the employee`s professional performance and contributions to the company`s objectives. 1) insure deposits with national banks and state banks that are members of the Federal Reserve System (FRS) as well as savings and credit institutions that are members of the Savings Bank and Debit Fund; and (2) to examine regularly insured public banks that are not members of the FRS. The Union is a worker bargaining unit at FDIC headquarters in Washington, D.C., one of three units represented by NTEU; the other two are a consolidated unit of Field employees and a consolidated unit of the inspection and compliance and personnel divisions of consumer companies. The head office consists of approximately 1,531 general education and salary-level employees in various professional and non-professional positions (para. B example lawyer, economist and data processing trader), whose salary and benefits are set by a recently negotiated compensation contract that was recently renegotiated and is due to expire on December 31, 2002.
The headquarters of the FDIC and the collective agreement of master NTEU (HQMCBA) expire on January 27, 2002. Washington, D.C.- By far, members of the Federal Deposit Insurance Corporation`s (FDIC) National Treasury Employees Union (NTEU) have ratified a new four-year compensation agreement that increases their compensation and maintains important existing services in the face of agency efforts to reduce them. NEXT STORY: Supporters: Congress „very close“ to the adoption of paid family leave for feds The employer proposes to improve the situation with a „pilot program“ in which employees would choose offices by rank (from the highest class to the lowest class), severing the seniority relationship in the rank, and then the appointment of seniority to the agency (including cumulative service). (RTC and FSLIC) and, finally, the seniority position in the work unit. The pilot program will continue until the end of the current HQMCBA. The employer will evaluate this program and its effects over the duration of the pilot project. The employer also proposes specific definitions of „seniority in service“ and seniority in rank. The challenges facing the FDIC today are very different from those of the past two decades.