** FILE ** In this Feb. 19, 2008 file photo from Singapore, a model of a Boeing 737 is seen at the Boeing booth at the exhibition hall of the Singapore Air Show. Boeing Co., the world's second biggest commercial airplane manufacturer, on Wednesday, April 23, 2008 said that it earned a better-than-expected $1.2 billion in the first quarter, a 38 percent increase from a year ago as its backlog of orders grew to a new record high. (AP Photo/Maye-E Wong, file)
SEATTLE (AP) Boeing has delivered its ``best and final'' contract offer to the Machinists union. The offer includes an 11 percent pay raise over three years. It comes as part of round-the-clock talks ahead of the current contract's expiration on September 3rd.
The offer would also increase the basic pension to an industry-leading $80 per month for each year of service. Boeing is withdrawing a proposal to cut early retiree medical benefits for future hires.
In all, the Chicago-based airplane maker says the offer would provide employees with $34,000 in additional pay over three years. The union represents 27,000 employees in Washington, Oregon and Kansas. It is reviewing the offer.