ARLINGTON, VA (August 17, 2022) – The National Carriers Conference Committee (NCCC), which represents the nation’s freight railroads in national collective bargaining, today issued the following statement regarding the report of Presidential Emergency Board (PEB) No. 250:
The NCCC has received the report and recommendations issued yesterday by PEB 250.
The PEB’s recommendations would increase wages by 24 percent during the five-year period from 2020 through 2024, with a 14.1 percent wage increase effective immediately. The recommendations also include five annual $1,000 lump sum payments, adjustments to health care premiums, and limited changes to work rules. A portion of the wage increases and lump sum payments would be retroactive, resulting in more than $11,000 on average in immediate payouts to employees.
These recommendations, if implemented, would include the most substantial wage increases in decades – with average rail worker wages reaching about $110,000 per year by the end of the agreement. When health care, retirement, and other benefits are considered, the value of rail employees’ total compensation package, which already ranks among the highest in the nation, would average more than $150,000 per year.
Although the recommended wage terms significantly exceed those proposed by the carriers in this round and are far above those contained in prior rail labor settlements, it is in the best interests of all stakeholders – including customers, employees, and the public – for the railroads and rail labor organizations to settle this dispute and prevent service disruptions. Accordingly, the railroads are prepared to meet with the rail unions and reach agreements based on the PEB report without delay.
We wish to extend our appreciation to PEB Chairman Jaffe and Members Deinhardt and Twomey for their recommendations and service to the parties and the public.
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