About 2,500 Boeing Defense workers at three plants have approved a three-year contract proposal. The agreement emerged following a new Boeing proposal during the weekend, with the International Association of Machinists and Aerospace Workers preparing to strike on August 1.
The IAM had criticized the manufacturer’s previous proposal on 401(k) contributions, among other details.
A union statement reported that the new contract – which takes effect on Thursday, August 4 – provides the workers with an $8,000 lump-sum payment that employees may defer to a 401(k) account, plus an ongoing 4% company contribution and 75% match on the first 8% of an employee’s 401(k) contribution.
In addition, workers will receive an average 14% general wage increase over three years, and cost-of-living adjustments.
The three St. Louis-area plants in Missouri and Illinois manufacture the Boeing F-15 and F-18 fighter jets, the T-7A trainer aircraft, and the MQ-25 drone refueling vehicle.
