Alcoa officials and union reps from the United Steelworkers Union meet again in Pittsburgh on Thursday, May 8, 2014 to try working out a contract for thousands of its employees.
The talks come just a day after Alcoa reps said on their website that a deal 'could be reached.' On Thursday, May 1, 2014, USW Loacl 105 held an informational picket outside of the Alcoa facility in Riverdale.
Union members would like to see future employees stay on a defined benefit program. Company officials say they want new employees on a defined contribution system instead. Alcoa officials added that in a defined contribution system, workers would have to manage their own 401 K's. Current union employees don't have to manage their pensions in that way. It's why USW members are worried there's more risk involved in this new proposal.
Company officials say that current employees would stay under the same benefit program. The current contract expires on Thursday, May 15, 2014. There are about 1,700 USW Local 105 members at the Alcoa plant in Riverdale. USW is posting updates to the negotiations at this website.