Boeing workers are casting ballots Friday on a contract extension that includes bonuses, higher wages, established seniority and earning progression, health and welfare benefits, and a 401(k) plan.
In an editorial published Thursday, The Seattle Times editorial board is urging International Association of Machinists and Aerospace Workers (IAM) District 751 to vote yes and compromise for the future. “This is a referendum on stable employment within a company and a region for decades to come.”
Also worth reading is former Washington state Attorney General Rob McKenna’s guest column on the vote, writing: “A yes vote is a pro-IAM-union vote. It is a pro-future-jobs vote. It is a pro-current-employees-having-a-job-until-they-retire vote.”
Our readers are weighing in as well ahead of the vote:
401(k) plans inevitable
Editor, the Times:
When I was an employee of Seattle First National Bank, it announced that it was terminating a defined-benefit pension plan in favor of a profit-sharing plan. The year? 1966. The reason? A pension plan was not financially feasible.