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SMART Transportation Division-represented trainmen, engineers and yardmasters employed by the Lake Terminal Railroad recently ratified a new six-year agreement.The pact provides six annual wage increases, retroactive to July 1, 2013, and rolls in previous cost-of-living adjustments, resulting in an 18.7 percent cumulative wage increase over the life of the contract, union officials said in a press release.The agreement also includes lump-sum back pay, increases carrier-matching contributions to 401(k) accounts, establishes an additional retirement account for new hires, limits workers' health and welfare contributions to 12 percent of plan costs, and freezes co-pays and deductibles.Meanwhile, SMART Transportation Division-represented trainmen and yardmasters employed by the Terminal Railroad-Alabama State Docks also ratified a new six-year agreement.The pact provides 3 percent general wage increases annually, retroactive to April 1, 2012, with the final 3 percent hike on April 1, 2017, resulting in a cumulative wage increase of 19.1 percent over the life of the contract, union officials said. The agreement also allows employees to bank up to 60 personal leave days.
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