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Fat Boeing Union Rejects 10% 401k Match, Pay Hike In Strike Move

At a glance

  • Almost 2,500 St. Louis-area machinist workers at Boeing Co., Chicago, are planning to strike Aug. 1 after rejecting a contract offer.
  • The offer included an increase in the matching contribution of its 401(k) plan to 100% of the first 10%.
  • In a statement, the union said: “Boeing previously took away a pension from our members, and now the company is unwilling to adequately compensate our members’ 401(k) plan. We will not allow this company to put our members’ hard-earned retirements in jeopardy.”

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