Workers push to revive pensions after decades-long decline
The Boeing machinist’s strike is now in its seventh week. Last Wednesday, the machinist's union rejected the latest contract from the company. A major sticking point continues to be union members’ insistence that the company reinstate a pension, also called a defined-benefits plan.
This is a long-held grievance. Union president Jon Holden said that the damage from a 2014 agreement— which froze pensions in favor of a 401(k) plan —remains unresolved.
Boeing machinists aren’t alone in this fight.
Striking autoworkers also sought to restore pensions during their 2023 strike, but received only increased contributions to their 401(k)s instead.
So, why are workers so determined to reclaim pensions now and how realistic is this goal?
Guest:
Thomas Gilbert, Professor of Finance at the University of Washington’s Foster School of Business
Links:
NPR - At the heart of the Boeing strike, an emotional fight over a lost pension plan
KUOW - Why pensions are a hot button issue in the Boeing machinists' strike
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Diana Opong
Reporter & Host
Diana Opong is a general assignment reporter at KUOW, committed to illuminating impactful stories throughout the Pacific Northwest. Her journalistic lens spans between environmental phenomena like invasive green crabs to transformative milestones in ballet. Rooted in curiosity, Diana's approach to reporting blends meticulous research with collaborative storytelling, ensuring her work resonates deeply with audiences. She has also showcased her expertise as a freelance host for NPR's Life Kit and as a spot news reporter for NPR News, consistently delivering insightful narratives that resonate with diverse audiences.
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Hans Anderson
Producer, Soundside
Hans Anderson is a producer on KUOW’s Soundside, where he covers a diverse range of topics from conflicts over how to use busy streets to how the open spaces of the Palouse inspire modern musical compositions. He primarily produces segments about politics, arts and transportation.
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