Meaning of the sentence

[Undak]

Please help me with this sentence.
He called for elimination of " jobs bank" program-negotiated by the united autoworkers and the companies-under which laid-off workers can receive about 19.5 percent of their pay and benefits for years.

1. What does that sentence mean? Especially the part including " under which laid off workers can receive about 19.5 percent of their pay and benefits for years.
2. Does " pay" have the meaning of wage or salary?
3. Does "benefit" mean the money for being unemployed in that case?

[abaka]

1) Paraphrase:

He proposed that the "jobs bank" program should be eliminated. This unemployment-insurance scheme is part of the contract between the UAW and the auto manufacturers. The program pays workers about a fifth of their normal wages and extra benefits for several years after they have been laid off.

2) Pay = wages or salary? YES.

By the way: wages are the pay per hour or day worked; salary is the monthly or yearly income. Blue-collar workers are usually paid in wages, and the amount of extra time they must work is heavily regulated; white-collar workers receive a salary, and are often expected to work as much overtime as necessary.

3) Benefits = unemployment benefits?

Here, NO. These benefits are extras such as medical or dental insurance for the workers and their families, year-end bonuses (?), etc.

[Charlie Bernstein]

Please help me with this sentence.
He called for elimination of " jobs bank" program -
negotiated by the United Auto Workers and the companies - under which laid-off workers can receive about 19.5 percent of their pay and benefits for years.

1. What does that sentence mean? Especially the part including " under which laid off workers can receive about 19.5 percent of their pay and benefits for years.

Part of the jobs bank program let's workers keep some of their pay and benefits.

2. Does " pay" have the meaning of wage or salary?

Yes.

3. Does "benefit" mean the money for being unemployed in that case?

No. Benefits are things other than money, like vacation, sick pay, and pensions. In this case, the benefit they're talking about is health insurance.

To get health care in the United States, wage earners usually need health insurance. Labor unions frequently look for health insurance when they negotiate contracts for their members.

Put spaces between dashes and the words they're separating.

[I edit copy and have tutored university writing.]