Machinists Local Lodge 350 members employed at Spirit AeroSystems in Kinston, NC ratified a new 5-year deal recently. The new accord also features a combined cash, and stock signing bonus for a total of $9,000 bonuses in retirement and cash.
The membership voted overwhelmingly to accept the new five-year deal, which includes:
- $1 per hour GWI in January 2023, and future wages protected for inflation with a 2% minimum and a maximum of 4%.
- Accelerated wage progression of .25 cents every 13 weeks.
- Shift premium, Lead premium, and promotion pay increased.
- A one-time $4,000 retirement incentive lump sum.
- $3,500 company stock.
- $1,500 signing bonus.
The deal also features a new company match to 401(k) and increased IAM National Pension Fund (IAMNPF) from 75 cents to 90 cents over the life of the agreement. Health savings account participants will see a $100 increase on the start of each year of the agreement, while holding the line on health care benefits. The package also includes paid paternity and maternity leave, the first of its kind to be included in a collective bargaining agreement at Spirit AeroSystems in the U.S.
“Congratulations to the members and representatives of Local 350,” said IAM Southern Territory General Vice President Rickey Wallace. “My thanks go out to Grand Lodge Representative Joe Greaser, and the Negotiating Committee for a job well done – the proof is in the results.”
“My thanks to the membership,” said Grand Lodge Representative Joe Greaser. “Their quality of work along with a long partnership with management made it possible to make the gains the members wanted at the table.”
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