(SEATTLE, WASHINGTON) - Striking Workers at Boeing have received a new contract proposal from the company.

More than 33,000 Members of the International Association of Machinists and Aerospace Workers (IAM) at Boeing locations in Washington state, Oregon, and California have been on Strike since Sept. 13. 

Details of the negotiated resolution include:

Wages: A 35% general wage increase spread over four years (12% in Year 1, 8% in Year 2, 8% in Year 3 and 7% in Year 4).

Incentive Pay: The Aerospace Machinists Performance Plan (AMPP) Incentive Plan is reinstated, with a guaranteed minimum annual payout of 4%. Including 2024 payout in February 2025. 

Retirement: Company 401(k) match increased to 100% of the first 8% contributed, in addition to a Special Company Retirement Contribution of 4% guaranteed company contribution. Additionally, there is a one-time $5,000 contribution to each Unit Member’s Boeing 401(k).

Pension: The Boeing Company Employee Retirement Plan (BCERP) Multiplier Benefit increases to $105 for vested Employees.

Ratification Bonus: A one-time bonus of $7,000.

Sick Time Call-Out: Reverts to the existing contract language’ call in before shift language removed from contract.

IAM Members will vote on the proposal on Wednesday (October 23rd).

Details of the potential Strike settlement - including the date on which Workers would return to work if the vote passes - will be part of the vote.

Following many years of making financial sacrifices to keep the company afloat, IAM Members have sought to regain some of the lost ground of the past 10 years and to improve job security protections, overtime rules and decrease their share of health insurance costs, among other priorities, IAM Officials said.

To Read This Labor News Story In Its Entirety, Go To: Striking IAM Union Members to Vote on New Contract Proposal from Boeing - IAMAW (goiam.org)