Utilization of Funds and Changes to Programs

The Collective Bargaining Agreement between CWA/IBEW and Verizon requires the Company to fund the programs enacted by the Work and Family Committees at $1.4 million, per year, each August, including through 2025. During the Covid-19 pandemic the utilization of the programs understandably declined, resulting in a surplus of funds available to the Committees to allocate towards programs. The Committees took several actions to deal with the surplus. We expanded on the number of programs to allow for more Members to participate by adding a Health and Wellness benefit, a Drivers’ Education benefit, and a College Book Reimbursement. We also didn’t lose sight of the mission of the fund, which is to help our Members with work/life balance issues. With that in mind, the Committees increased the maximum allowed amounts for reimbursement under the Dependent Care and Summer Camp programs. All of these actions helped get the money where it belonged – to the participants in these programs. Due to the popularity of these programs, we no longer have a surplus of funds and must make some changes: • The Dependent Care Reimbursement Fund (DCRF) will revert back to a $150 maximum per family, per week beginning in June 2025. • Additionally, DCRF reimbursements for June and July will not be processed until August with a likely payout in September (please continue to stay current with your applications for reimbursement). • The Health and Wellness program is being evaluated and may provide a yearly reimbursement instead of the current semi-annual reimbursements. , • Summer Camp flyer will be distributed in the near future. • All other programs are under review. We will continue to do our best to make the proper decisions to utilize the funds available to us in an equitable and appropriate manner.