Per our 2018 Basic Labor Agreement, Inflation Recognition Payments (IRPs) will be made in lump sum, quarterly payments if cumulative inflation exceeds 3% per year.

At the end of each calendar quarter, the Consumer Price Index (CPI) will be compared to a Consumer Price Threshold. If the actual CPI is higher than the CPI Threshold, a lump sum payment shall be made equal to each full 1% by which the CPI is higher than the threshold. 

In the third quarter, the CPI averaged 2% higher than the threshold, which will grant us a lump sum payment for this quarter.

The CPI payment may be calculated by multiplying your regular rate of pay for all hours actually worked in full calendar weeks in the fiscal quarter by 2% (Excluding Profit Sharing). Payment is due within 45 days of the end of the quarter.

In Solidarity, 
Pete Trinidad Sr. 
USW Local 6787
President