About 30,000 Seattle-area machinist workers at Boeing Co., Chicago, are striking after rejecting a contract offer that included an increase in 401(k) plan matching contributions. In the Sept. 12 vote, 94.6% of union members rejected the Sept. 8 tentative agreement with Boeing and 96% voted to strike.
Changes in the tentative agreement included an increase to the company matching contribution to Boeing’s 401(k) plan to 75% from 50% of the first 8% of the employee’s contribution, according to details of the tentative agreement posted on the website of District Lodge No. 751, International Association of Machinists and Aerospace Workers, AFL-CIO.
The airliner’s defined benefit plan has been frozen to benefit accruals since Oct. 31, 2016, after being closed to new hires since Jan. 3, 2014.
In a statement posted on its website, IAM said: “We are incredibly proud of the hard work and dedication shown by the negotiating teams from District 751 and W24 and the unwavering solidarity of our membership. Their tireless efforts have been on display throughout this entire process. Now, they will regroup and begin planning the next steps on securing an agreement that our membership can approve.’
Boeing spokesman Michael Friedman and union representatives could not be immediately reached for comment.
