Boeing strike over after machinists approved new contract

RENTON, Wash. (NBC, KYMA/KECY) - The Boeing strike is over after machinists approved the new contract on Monday night.

The International Association of Machinists and Aerospace Workers (IAM) said that its members voted by 59% to approve the deal.

Under the new contract, workers will benefit from a 38% raise in pay over four years, a $12,000 signing bonus and higher employer contributions to their retirement plans.

"The strike will end and now its our job to get back to work and start building the airplanes, increase the rates, and bring this company back to financial success," said Jon Holden, IAM District 751 President.

However, the deal does not restore a defined-benefit pension that Boeing froze in 2014, a key demand of some employees.

"Many of the members were fighting to get the pensions back. It's a righteous fight and our members deserve pension just like every worker deserves a safe, fair, retirement in the future. So they weren't wrong in feeling the way they did. I feel strongly and we agree with them, we just couldn't get the pension out of this company. We will continue working on that issue. Retirement security for the rest of our lives."

Jon Holden, International Association of Machinists District 751 President

President Biden released a statement congratulating IAM and Boeing for "coming to an agreement."