Staff
Members of Boeing’s machinists union have accepted a new contract that includes freezing the DB plan and the introduction of a DC plan.
Members of the International Association of Machinists and Aerospace Workers (IAMAW) approved the offer in a 51% to 49% vote.
Under terms of the agreement, the DB plan will be frozen in 2016 and members will be covered by a DC plan.
The eight-year contract extension also includes a two-part US$15,000 ($16,006) signing bonus and assures the Boeing 777X will be built in Puget Sound, Wash., by IAMAW members.
The company had threatened to move production of the jets to another state if the contract wasn’t approved.