Posts tagged 401(k)
Collective bargaining agreement between Bath Iron Works and union employees to include 17% wage increase
August 24, 2026 // According to IAM Local S6, the new contract also increases shift premiums to $2.50 per hour, locks in healthcare costs during the contract, improves 401(k) contributions, adds safeguards for outsourcing, provides more flexibility for time off, protections with new technology including AI, and more protections for bargaining-unit work. The union says members had to make no concessions for the agreement. Bath Iron Works says that there is some training that will go into effect next week to implement the contract. Charles Krugh, President of General Dynamics Bath Iron Works saying in a statement “This historic contract is the result of constructive, good-faith negotiations. It not only provides significant wage increases, it also provides additional flexibility and long-term stability for both our employees and the company. It will help us continue the production momentum we have gained in our vital work of building ships for the U.S. Navy."
PECO union “overwhelmingly” votes to authorize strike as contract negotiations continue
June 2, 2026 // Members of the union representing about 1,600 PECO workers voted Saturday to authorize a strike. The move would give union leaders the power to call a work stoppage if ongoing contract negotiations fail to produce an agreement. A spokesperson tells CBS News Philadelphia the strike was "overwhelmingly" approved with 94% of the votes in favor. More than 1,000 members voted. As of now, there are no plans to walk off the job Saturday.
Opinion: Teacher’s union lies to extort billions from taxpayers
April 7, 2026 // The unions insist that the state needs to “fix” the pension rules because, they say, reforms enacted for future employees in 2009 and 2012 (the latter commonly called “Tier 6”) have made it harder to attract and keep good employees. This is a remarkable claim that crumbles under inspection. New York state government set a record for the most employees hired in 2023, only to smash it in 2024. So much for that recruitment problem.
Op-ed: New Options for Your 401(k)
April 1, 2026 // The law doesn’t allow ulterior motives to infect plan investments. The duty to invest for the sole financial benefit of plan participants doesn’t allow fiduciaries to pursue political agendas or engage in self-dealing. The Labor Department will be ready to enforce the law if plan fiduciaries act with a disloyal motive or threaten the retirement security of American workers. The department isn’t promoting any particular investment option. We aren’t picking winners and losers. We are leveling the playing field so that plan fiduciaries can exercise their judgment—selecting plan investments without fear of undue liability. We are applying the principle-based rules that the law requires.
NLRB dismisses union complaints against Bigfoot Beverages, calls them lacking in merit
January 19, 2026 // In a statement, Bigfoot says the NLRB called the seven complaints filed by the Teamsters unions 206 and 324 lacking in merit. The strike began September 19, 2024, after Bigfoot tried to move union members off a retirement pension plan and into a 401(k) plan, which the union calls riskier and more costly.
Op-ed: President Trump’s investing order puts workers first
January 12, 2026 // Trump’s executive order will help right this wrong by refocusing the advice that proxy advisors give to plan managers. So would Sen. Bill Cassidy’s (R-La.) Restoring Integrity in Fiduciary Act, which would require retirement plan managers to focus solely on financial factors when making decisions on behalf of investors.
Teachers’ union AFT slams crypto market bill, warns of ‘profound risks’ for America’s retirement plans
December 11, 2025 // The American Federation of Teachers, the powerful labor union that represents 1.8 million members, is urging the Senate Banking Committee to reconsider its crypto market structure bill, the Responsible Financial Innovation Act, calling the proposed legislation “as irresponsible as it is reckless” in a letter exclusively obtained by CNBC. In the letter that AFT president Randi Weingarten sent to Senate Banking Committee Chairman Tim Scott (R-SC) and Ranking Member Elizabeth Warren (D-Mass.), she wrote the union opposes the bill based on the “profound risks to the pensions of working families and the overall stability of the economy.”
Alaska contractor challenges mandate forcing union agreements on federal projects
November 10, 2025 // Slayden filed suit to challenge the mandate as exceeding statutory authority and violating the non-delegation doctrine. The company is fighting to restore both its right to compete for federal work and the proper separation of powers between Congress and the president.
IAM union modifies offer to Boeing after meeting with mediator
October 3, 2025 // In response to Boeing’s offers, IAM 837 members created their own proposed offer, featuring increased 401k contributions and improved raises for top of scale members, but was rejected by the company. Boeing and the union returned to the bargaining table on Monday with the inclusion of a federal mediator to help provide a new avenue to resolve the ongoing dispute. On Tuesday, the union modified its proposed offer to the company.
Union workers react to federal mediator joining talks with Boeing
September 30, 2025 // “The last offer we had from the union, they had a federal mediator and we seemed to get a worse offer,” Martin said. “If they can point Boeing in the right direction, aside from last time, it still didn’t seem to do a good thing for the union.” Union members say contracts at other Boeing plants — especially in places like Seattle — come with better pay and stronger benefits. “No one cares about this ratification bonus that they’re pushing so hard on everyone. We want better pay for all of our members. The ratification bonus is a right now solution and I think most of us are thinking about our futures,” said another Boeing worker on strike.