Raise Time Is the Time to Evaluate Your Retirement Strategy

Raises Are Coming in October

In your October 16th paycheck, you should notice an uptick in your pay. The last of the four SHARE raises negotiated under the current negotiated agreement with UMass Memorial will become effective at the beginning of the 10/3/15 pay period.

The raise averages 3%. It includes two components: an across-the-board raise that all SHARE members will receive, and an increment raise that recognizes all of the SHARE members who have logged another full year of service to the hospital, and keeps everyone moving through their pay grade. More specifically:
  • The raise is $.23 + 2% per hour, for an average of 3%. 
  • The flat rate of $.23 is an average of 1% for SHARE members, and is added to every SHARE member's base pay. 
  • The 2% is added to your base rate if you are below your grade maximum. 
  • If you are at or above your grade maximum, you get the 2% as a one-time bonus. 
  • The grade minimums and maximums will go up by $.23, to keep up with inflation. The additional 2% moves you up within your grade toward your grade maximum, unless you are already at max.
To read the contract language that describes the raises, look here.

The negotiating team will begin negotiating a new contract in the new year, which will be effective October 2016.

Any questions? Call SHARE at 508-929-4020 and leave a message on the general voicemail. One of the SHARE staff will call you back to answer your questions.

SHARE Raises in October

Raises for SHARE members are scheduled to go into effect on October 5th. (That's a Sunday -- really they go into effect at 11pm on Saturday night, October 4th.) Payroll says that the raises will be in paychecks on October 16th.

For more information about the raise, look here.

Saving for retirement almost painlessly: This is a great time to start a 401K or to increase the amount you have deducted for your 401K. If you start the deduction at the same time as your raise comes, you won't miss the money! (At least not as much.) For more info, register on the Fidelity website, or call Fidelity at 800-343-0860. 

Contract Extension Ratified

Our contract extension is now official. 1,101 SHARE members voted yes, 55 SHARE members voted no. That's a 95% yes vote, for those of you who like to keep track. Thanks to all those who turned out to vote, whichever way you voted -- it's important. And a thanks again to our negotiating team, who worked hard to get this Agreement.

The raise will probably show up in the March 22 paycheck, but we'll let you know as soon as we have that officially confirmed by HR and Payroll.