Sep 142021

That was not the intention when the 20-year stage was negotiated. If we ignored section 3803(c) and carried the LPN-+RN to the 4-year rate on the N2 scale, the nurse would get a greater benefit than was expected for the 20-year stage and the increase in costs would not be funded. The nurses also benefited from a jointly funded COLA fund for all healthcare workers covered by the Healthcare Employees Pension Plan (HEPP). Contributions to the COLA Fund will start in 2014 and COLA will be disbursed in 2018. The majority of nurses contribute to a defined benefit pension plan through the Healthcare Employees Pension Plan (HEPP). The services are competitive in the health market and benefit from a higher early retirement. The benefit depends on your contribution years in the plan…

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