"NO" VOTE- The current contract will remain in place until 2016 at which time Boeing has said they will move production to South Carolina. If this happened it could result in a loss of up to 10,000 of the 20,000 Machinist jobs in the state. Contract opponents say Boeing is bluffing and South Carolinians aren't capable of building airplanes. The current contract:
- (a) PAY Machinist pay starts at $37,000 and increases to $67,000 after 6 years.
(b) RETIREMENT Machinists receive a company-funded pension.
(c) HEALTH CARE Machinists receive company-paid health insurance with a $200 annual deductible.
(d) COST-OF-LIVING RAISES Machinists receive an annual raise tied to the increase in cost-of-living (currently about 2%).
"YES" VOTE - Boeing will give $10,000 to every union member in exchange for a "yes" vote. They would also contractually guarantee to keep 777X production in Washington state for at least 10 years. The new contract:
- (a) PAY Machinist pay starts at $37,000 and increases to $67,000 after 12 years.
(b) RETIREMENT Machinists receive a company-matched 401K that would cost each member $300/month in contributions to approximate pension plan.
(c) HEALTH CARE Machinists will be downgraded to a health insurance plan that mirrors Obamacare.
(d) COST-OF-LIVING RAISES Machinists will receive an annual raise of 1% regardless of increase in cost-of-living.