During the negotiations for the 1985-1987 agreement covering Registered Nurses at VNS Home Care, the parties agreed that the present Pension Plan will be amended as follows:
1. RETIREMENT BENEFITS
- Employees on staff prior to January 1, 1985 would, upon retirement with a pension, continue to receive COLA adjustments as presently set forth in the plan.
- Employees hired after January 1, 1985 would receive COLA adjustments capped at 3% per year after retirement.
2. TERMINATED VESTED EMPLOYEES
Employees hired after January 1, 1985 who leave the Agency in the Terminated Vested category would not receive COLA adjustment during the deferral period, and they will receive COLA adjustments capped at 3% per year after retirement.class="appendix-signoff">
VNS HOME CARE UNITED FEDERATION OF TEACHERS
ELIZABETH DAVIS ALBERT SHANKER
VICE PRESIDENT OF OPERATIONS PRESIDENT, UFT