Boeing Defense
A USAF Boeing F-15 fighter jet.

Boeing Defense Workers Pass Contract, Avoid Strike

Aug. 3, 2022
A three-year contract for almost 2,500 IAM union members will provide wage increases, COLA updates, and bonus payments directed at workers’ retirement savings plans.

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.

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