MINNEAPOLIS, May 24, 2019 /PRNewswire/ -- We are pleased that we were able to reach a positive agreement with the Teamsters Union at the bargaining table today – one that we consider a win for the employees and the company. We have agreed on a plan to move the Teamsters Union employees over to the same health plan offered to all non-union Murphy employees, including Richard Murphy and the entire management team. Today's agreement moves us closer to our goal of having all Murphy employees on the same health plan and paying a share of the premiums. Murphy requested both of these changes during negotiations and the Teamsters Union agreed to them.
The deal reached today is very similar to the one offered before the strike. The Teamsters have a new five-year contract that includes wage increases each year, which will more than cover their premium costs. The deal also includes a gradual increase in premiums over four years, which will bring them to parity with Murphy's non-union employees at the end of four years.
The Murphy health plan for non-union members has not changed in 25 years and the company does not intend to change it. Compared to other company health plans in today's market, the Murphy health plan is extremely generous, with premiums of $15 for single coverage and $45 for family per biweekly pay period, as well as very low deductibles and out-of-pocket costs.
Murphy has absorbed an 82 percent increase over the past 10 years alone, just to keep health plan costs to employees affordable – a key value of ours.
We believe these changes will help ensure our company, which is a 115-year-old family-owned business, remains healthy and competitive for the future. Murphy is in it for the long haul and the company's health plan offer to union members continues its tradition of treating employees like family.
Richard T. Murphy Jr.
President & CEO
Murphy Logistics Solutions
SOURCE Murphy Logistics Solutions, Inc.