Because of your hard work, dedication, and ingenuity, we met our affordability goals across the board, resulting in a historic savings of over $114 million. We even exceeded our affordability goal by $38 million in the first year of the Alliance PSP.
This is what our hard work got us: Alliance members will receive PSP payouts in all regions.
Southern California: In an unprecedented move, KP informed the Alliance of their intent to reduce the SCAL PSP payout by 43%. The Alliance immediately told KP that this reduction was unacceptable AND a violation of our agreement. In recognition of our Affordability work, and to settle PSP disputes, KP agreed to make an additional $1,200 payment, which brings employees up to a FULL PAYOUT. Alliance members will receive the bonus in two payments. The first payment on March 8 is based on performance toward PSP goals, and as always will vary by Service Area and KFH/SCPMG. The range will be between $1,409 and $1,925, depending on the service area. The second payout of $1,200 will be on March 22. All of these amounts are subject to proration based on compensated hours.
Washington, Colorado, Mid-Atlantic States: We called on KP to recognize our extraordinary efforts and historic affordability savings with a good PSP payout. KP has agreed to make a second payment in recognition of our historic affordability savings.
Northwest, Georgia, and Hawaii: We met our PSP goals and the region met the financial gate, realizing the vision of our shared performance plan. Be on the lookout for more information soon.
There is still more work that KP needs to do to Wage Up, Staff Up, and Partner Up, but a good PSP payout for all Alliance members is a step in the right direction.
To learn more about the 2023 PSP Payout, please refer your region-specific flier below.