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COMPANY PROPOSAL:
ARTICLE 12
401K
The Harrah’s Entertainment Retirement and
Savings Plan (401K) that presently exists for qualified employees will remain in
effect until December 31, 2008. As
of January 1, 2009 the program will no longer be available to employees covered
by this agreement. Beginning
on the last day of February 2009 and likewise on or before
the last day of each month thereafter during the term of this Agreement, the
Employer shall contribute to a 401K plan designated by the Union, on behalf
of each eligible employee, a monthly contribution equivalent to sixty six
cents ($.66) per hour on all the employee's hours worked in the previous
month. Provided that the monthly contribution shall not exceed
hundred fifteen dollars ($115.00) for any employee. For
example, the contribution for hours worked in January shall be paid on or
before the last day of February. Provided that the plan must be designated
by the Union in writing to the Employer on or before February 1, 2009.
Provided further that the plan designated by the Union shall be an ERISA
qualified 401K plan , and shall meet all other requirements of law,
including the Taft-Hartley Act, if applicable, and provided that the
Employer's contributions shall be tax deductible to it. The Union will defend, indemnify and hold
harmless the Employer against and from any and all claims, demands,
liabilities, and disputes, including reasonable attorney fees, arising out of,
or by reason of, action taken or not taken by the Employer for the purpose of
complying with this Article.
UNION
COMMENTS/OPINION: 
See
"Status Quo":
See
Union Proposal: Union
Article
12: SAVINGS AND RETIREMENT PLAN
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