Boeing’s engineers and technical workers returned a split decision after voting on a new four-year contract. According to the Society of Professional Engineering Employees in Aerospace (SPEEA), engineers accepted the offer and technical workers rejected it, authorizing a strike.
SPEEA said that while Boeing’s offers extended “most elements of the previous contracts—including 5% annual wage pools and no increases to employees for medical coverage—union members found fault with the elimination of the pension for future employees. In its place, Boeing offered a 401(k) retirement package that slashed the retirement benefit 41%. Boeing also refused to ensure existing employees their benefits would not be affected by changes to the Social Security cap on taxable income or raising the Medicare eligibility age. Both are being considered by Congress and would dramatically impact existing retirement packages.
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