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<< Previous   of   Next >>   ADVERTISEMENT   CONTACT THE HERALD Mike Benbow, Business Editor benbow@heraldnet.com   Published: Monday, December 1, 2008 SPEEA to vote today on Boeing contract By Michelle Dunlop Herald Writer The Boeing Co. will know by the end of today whether it managed to stave off a second strike by appeasing its engineers and technical workers. At 5 p.m., the polls will close and the Society of Professional Engineering Employees in Aerospace will tally votes on four-year contracts for Boeing engineers and technical employees. The union represents 20,500 members, most in the Puget Sound region. SPEEA leaders endorsed the company's offer in mid-November. Boeing is recovering from a 57-day strike by its Machinists union. That work stoppage contributed to delays in the company's 787 Dreamliner, 747-8 jumbo jet and new 777 Freighter. SPEEA expects to announce results as early as 8 p.m. Highlights of the SPEEA contract: Wages: Boeing provides a salary increase pool of 5 percent each year of the contract with guaranteed increases of 2 percent annually for engineers and 2.5 percent annually for technical workers. Pension: Increase in pension to $81 per month for each year of service beginning Jan. 1, up from $70. Another bump to $83 will begin Jan. 1, 2012. Retains traditional pension plan for existing SPEEA members and new ones. Boeing had wanted to offer new employees a 401(k)-style plan. Medical benefits: Members would pay a slight increase in deductible for their Traditional Medical Plan but would receive expanded coverage for preventive care. Outsourcing: Allows SPEEA early input in decisions involving outsourcing of member work. Overtime: Engineers will be paid at straight time plus $15 an hour for time beyond 144 hours per quarter through 2010. Overtime up to 144 hours per quarter will remain at the existing rate of standard pay plus $6.50 an hour. After 2010, the overtime premium of hours above 144 hours ends and reverts back to $6.50. Union representation: Boeing had sought to cut 100 engineers in Utah from the Puget Sound contract. They remain under the contract. Employee Incentive Plan: Continued participation for members. For more information: www.speea.org or www.boeing.com/2008negotiations. READER COMMENTS Be the first to comment. You must be a registered user and verify your e-mail address to post comments to blogs or articles on HeraldNet. To register, click here. To read other terms and conditions, click here. Log out

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