After 53 days on strike, members of International Association of Machinists voted on November 4 to approve Boeing’s third contract offer. The most important gain for workers was a significant wage increase — 38% over four years. Boeing also agreed to bonus payments and increased company contributions to employee 401K plans, but did not restore the defined benefit pension plan that the company ended in 2014.
i’ll be starting a new union job in a couple of months and the pension plan is the biggest reason why i was willing to take a 56% paycut to do it and reading the article makes me fear that it too will pass away with my new union since they’ve given so much ground in the last 10 years.