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Union machinists reject an offer from the company that included a 35 percent pay increase and up to a 12 percent annual contribution from the company toward workers' 401(k)s.
One option Boeing and the union could consider, retirement experts said, is a cash balance plan. Instead of guaranteeing a lifetime paycheck based on a specific formula, such plans promise a ...
Pensions are a major sticking point between Boeing and its striking machinists union. Many workers want the company to restore the pension plan they lost a decade ago, but Boeing hasn’t budged.
Amid a remarkable comeback in the health of pension funds, improving retirement benefits could help Boeing with one of its key problems: keeping skilled workers around.
One of the most painful issues dividing labor and management in the strike at Boeing is the loss of the traditional pension plan for union members in 2014.
Why pensions are part of labor discussions again Last year, just 15% of workers had access to pension plans. Now, unionized workers like the ones at Boeing are negotiating to get them back.
Since going on strike last month, Boeing factory workers repeated one theme from their picket lines: They want their pensions back.