SEATTLE, Aug. 27 (AP) — The Boeing Company delivered its ÿbest and finalÿ offer to the machinists' union today, calling for a 20 percent pension increase by the contract's third year and an increase in the ratification bonus to 8 percent from 6 percent of a year's pay.þþÿIt's very attractive economically, it's very competitive and we hope they find it acceptable,ÿ said Alan Mulally, the chief executive of Boeing's commercial airplane group.þþBut a union spokesman, Matt Bates, said, ÿIt looks, on every count, unsatisfactory.ÿþþThe pension proposal would raise monthly payments from the current $50 per year of service to $58 in the first year, $59 in the second year and $60 in the third year. The company has also proposed delaying an increase in the employee share of health insurance premium costs, from July 2003 to January 2004.þþThe proposal calls for a 2 percent wage increase in the second year of the contract and a 2.5 percent increase in the third year. There is no increase for the first year, when workers would receive the ratification bonus. Machinists make on average $50,000 a year.þþMachinists, whose average age is 47, have said they want pensions of $120 a month for each year of service.þþThe union is scheduled to vote Thursday on whether to accept the contract and whether to strike.þþ
Source: NY Times
