Boeing Technicians Approve Four-Year Deal

 - March 19, 2013, 11:15 AM
Boeing technical workers successfully fought to maintain their pay raise pools, but failed to secure a traditional pension plan for new hires. (Photo: SPEEA)

Boeing technical workers have approved a new four-year contract that maintains annual 5-percent salary increase pools and guaranteed minimum wage increases each year. Of the 4,898 workers who submitted ballots, 4,244 voted to accept the same deal a narrow majority rejected on February 19. Society of Professional Engineering Employees in Aerospace (SPEEA) negotiators told members a second rejection would likely result in a strike due to Boeing’s refusal to move from its position on all outstanding matters of disagreement, most notably the company’s insistence that it abandon its defined pension plan in favor of a 401(k) for all new hires.

The new contract extends the remaining terms of the previous contract, including no increases to employee contributions for medical coverage and an increase to the retirement benefit.

SPEEA and Boeing started negotiations in April last year. On February 19 its professional workers narrowly accepted Boeing’s offer. Although SPEEA negotiated their contracts simultaneously, technicians and engineers work under separate contracts. Technical workers had gone without a contract since November 25.