2011 Pay and the FDIC Contract
FDIC To Honor Its Obligations Under Compensation Agreement

As Chairman Bair informed you on Friday, the provisions of the NTEU-FDIC Compensation Agreement remain in effect despite the federal pay freeze imposed by Congress last month. NTEU had quickly concluded that negotiated compensation agreements fell outside the dictate of the pay freeze. I shared that view with Chairman Bair shortly after Congress passed the continuing resolution containing language to keep the pay of most federal employees at the current levels for the next two years.

I am pleased that the FDIC has come to the same conclusion and recognized the clear language contained in the legislation that negotiated pay agreements are exempt, as well as bonuses and awards. That means that FDIC employees will continue to be awarded for all the difficult work you do each day, particularly as your workloads have increased greatly in light of the current economic turmoil.

The compensation agreement is a strong indication of the value that NTEU brings to the FDIC workplace and our clear conviction that federal employees should be recognized and rewarded for their high performance. This agreement was finalized just last spring and covers your annual pay raise, locality pay, contributions to health insurance premiums, retirement and travel benefits, among other things. This contract was reached after long and difficult negotiations and because this agreement is in place, the pay freeze does not apply to FDIC employees.

I want to thank you for your continued support of NTEU and our efforts on behalf of the FDIC workforce. We will continue to be strong advocates for FDIC employees at the bargaining table, in Congress and with the media and the American public. We are bringing the same determination to the term contract bargaining table that we brought to compensation bargaining. I will continue to provide updates as those negotiations progress. For more information, visit the NTEU FDIC bargaining page.

 

Colleen M. Kelley
NTEU National President