U.S. Steel wins on pensions

Indexing gone, DB plan capped in new contract
By Gordon Sova
|Canadian Labour Reporter|Last Updated: 10/24/2011

The bitter conclusion to a 49-week lock-out of United Steelworkers at Hamilton’s U.S. Steel plant left the company with most of what it wanted.

With EI benefits running out and the company musing about shutting the mill, the 900-odd hourly employees of the former Stelco Hilton Works voted unenthusiastically for a new collective agreement on Oct. 15.

Two of the company’s principle demands — the end of the defined-benefit pension plan for new employees and the end to indexation for retirees — figured in the tentative agreement.