Huntington Ingalls Industries Inc. reached a contract agreement on Thursday with union workers at its Newport News Shipbuilding division.
The United Steelworker Local 8888 members voted 1,914-104 in favor of the new contract, which will last through July 9, 2017. The previous contract expired at midnight on March 10.
“We participated in a productive process that yielded win-win results,“ NSS Vice President of Human Resources and Administration Bill Bell said in a statement. “This offer contains solid improvements, is fair, competitive in the industry and worthy of our great shipbuilders.”
Under the contract, employees will receive a 3.5 percent wage increase immediately. In 13 months, wages will go up 3 percent, and then by 3.5 percent in each of the last two, 13-month segments of the contract.
For employees hired on or before June 6, 2004 and who retire at age 62 with 30 continuous years of service, the monthly pension increases to $1,450 starting Aug. 1. There will be a $25 per year supplement given to employees who work longer than 30 years.
The monthly pension will increase to $1,550 starting Aug. 1, 2015.
Under the contract, premium cost-sharing benefits will remain the same.
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