IAM Union’s Recent Contract Ratification at Boeing Helps Boost Pay and Benefits for Boeing South Carolina Workers

WASHINGTON, Dec. 13, 2024 - In a recent victory for workers, 33,000 International Association of Machinists and Aerospace Workers (IAM) District 751 and W24 members working at Boeing in Washington state, Oregon, and California recently ratified an industry-leading contract. The agreement, reached after a nearly two-month strike, not only secures historic wage and benefit gains for IAM members but has also set a new benchmark for aerospace workers nationwide, including non-union workers.

In Boeing South Carolina, non-union employees have benefitted from this ratified agreement by receiving a 9% standard wage increase and a $12,000 retention bonus. This recent pay increase and retention bonus payout demonstrates how union contracts are a rising tide that uplifts all workers in an industry, whether unionized or not.

"This agreement is more than a contract-it's a statement about the value of labor and the role unions play in securing economic fairness for all aerospace workers," said IAM International President Brian Bryant. "Our members fought courageously for what they deserve, and this victory proves the power of collective bargaining. IAM Boeing workers will help make the case to Boeing South Carolina workers on how we helped raise their wages and benefits at Boeing and the entire industry. We look forward to the conversations on the ground in Charleston about how the IAM can make their workplace stronger. "

The ratified contract IAM Union District 751 and W24 members secured helped deliver a 43.65% compounded wage increase-38% before compounding-over its four-year term and a $12,000 ratification bonus. The deal also included significant improvements, such as enhanced retirement security and increased paid leave, while protecting healthcare benefits.

Highlights of the contract include:

• 38% general wage increase over four years - 13%, 9%, 9%, 7%, which compounds to 43.65% over the life of the agreement
• $12,000 Ratification Bonus: The ratification bonus combines the previous $7,000 ratification bonus and the $5,000 lump sum into the 401(k). Now, union members can choose how this total amount is received - in their paycheck, contribution to 401(k), or a combination of both.
• AMPP incentive plan is reinstated, with a guaranteed minimum annual payout of 4%, including a 2024 payout in February 2025
• 401(k) employer match of 100% up to 8%
• Special company retirement contribution of 4% into 401(k) maintained
• $105 pension multiplier per year for those vested in the pension plan
• Call-in language back to the current contract
• New long-term disability plan and big improvement to the short-term disability plan
• Healthcare cost containment
• Improved overtime rules
• Key job security provisions
• Increased Minimum Rates that now increase with COLA increases.

Further details of the negotiated resolution can be found at iam751.org/2024StrikeProposal.

"Workers at other Boeing facilities deserve the same opportunity to improve their lives that the IAM Union has brought us," saidIAM District 751 President and Directing Business Representative Jon Holden. "Imagine the powerful changes we can achieve together: strengthening our work lives, ensuring fair treatment, and making Boeing successful by upholding the highest quality and safety standards. Joining the IAM Union means joining a united voice that fights for a better future for everyone. A future where every Boeing worker is treated with dignity and respect."

The strike and eventual agreement received international attention, underscoring IAM Union members' critical role in the aerospace industry. The groundbreaking contract is expected to have lasting positive effects not only on Boeing workers but on the entire aerospace industry, union and non-union alike.