Dive Summary:

• Consolidated Edison's Local 3 union members on Staten Island threatened to strike when their four-year contract expired Saturday, but a new deal was reportedly struck at 11:20 p.m.
• The New York workers raised disagreements over medical plan and pension issues, though Con Ed in the end put new wellness initiatives in place and defined a benefit pension plan that will remain intact for 25 years.
• Representatives from both sides referred to the tentative contract, which would expire in 2017, as "fair."

From the article:

...As for the pensions of Local 3 worker, Santigate said, "Con Edison guaranteed that the defined benefit pension plan won't be touched for 25 years, which was huge for our membership. Con Ed is introducing another type of pension plan that members will have options to go into. New employees will have an option between a cash balance or enhanced 401K pension going forward." ...