October 27, 2022
Dear Sisters and Brothers,
We want to thank our UAW Local 1069 Sisters and Brothers who attended and voted at our contract ratification meeting on Sunday, October 16, 2022. Also, your overwhelming show of support for your bargaining team is much appreciated.
We continue to follow up with Company Representatives regarding the $7000 lump sum ratification money. As was agreed to in our new Collective Bargaining Agreement (CBA), the $7000 payout is eligible to defer in whole or part to our 401K plans. Fidelity, who manages our 401K needs a window to set up this new deferral feature for those who wish to use this option. Based on this timeframe, the target date for our pay-out is December 1, 2022, which will coincide with hourly (UAW Local 1069) employee payroll cycle.
Also, this past week, we received notification that the Internal Revenue Service (IRS) released the 2023 cost-of-living adjusted limits for health savings accounts (HSAs), high deductible health plans (Advantage+ Plan). The 2023 minimum annual deductible is now $1500 for self-only (up from $1400 in 2022) and $3000 for family (up from $2800 in 2022). Of course, we were disappointed with this untimely change that was announced by the IRS. However, we did reach out to The Company and expressed this federal regulation should have been communicated to us during our contract talks. Therefore, the Company agrees on a one-time nonprecedential and non-referable basis to increase its current HSA contribution rates for the 2023 open enrollment period as follows:
1) +$100 for employees who enroll in the Advantage+ Plan and select employee only.
2) +$200 for employees who enroll in the Advantage+ Plan and select EE + Spouse, EE + Dependent, or EE + Family.
This increased contribution will only apply to those employees who select the Advantage+ Plan during the 2023 Open Enrollment Period and will not apply to employees who select the Advantage+ Plan during the 2023 Plan year as a new hire or through a qualifying status change or special enrollment event. The Company’s HSA contribution will revert to the current CBA agreed upon levels beginning in the 2024 Plan year.
Lastly, we will not have our scheduled membership meetings Sunday, November 27, 2022, and December 25, 2022, due to holiday weekends. We will combine these two meetings which will be held on December 4, 2022. Please make note of these changes and please plan on attending.
Stay United. Remain UAW Local 1069 Strong
In Solidarity,
Michael A Tolassi
President
UAW Local 1069
