2/9/12: The Union is pleased to announce that it has reached an agreement with the SEC for merit pay awards for FY 2012.

Under the agreement, all employees who receive an "acceptable" rating for the rating period ending September 30, 2011, will receive an equivalent share 2.5% merit increase in their base pay in Pay Period 4 (which begins on February 12, 2012). For those employees who are already at the top of their grades, their salary range maximum will be increased by 2.5%, so that they will receive the award as a salary raise.

NTEU's compensation negotiating team, comprised of Chapter 293 President Greg Gilman, James Fay, and NTEU attorney Steve Keller, hammered out the agreement with the SEC in Headquarters last week. The negotiation was a difficult one.

During the negotiations, the SEC demanded that the Union accept a provision that would terminate all existing compensation agreements between the Union and the agency at the end of 2012. Our existing compensation agreements include the agreement to temporarily lift salary caps at the tops of grades, the agreement on domestic partner benefits, and many other negotiated contracts between the parties.

Needless to say, this provision would have severely compromised the Union's position on a number of important issues heading into negotations this year over a new comprehensive compensation agreement with the SEC. For that reason, the Union made it clear that it would go to the Federal Service Impasses Panel rather than accept this provision. Yesterday, the SEC agreed to withdraw it.

The Union and the SEC will commence negotiations over the new comprehensive compensation agreement this spring. We will keep you updated on the progress of those discussions.