Boeing machinists continue a seventh-week strike, rejecting the latest contract proposal and demanding reinstatement of the traditional pension plan lost nearly a decade ago. Boeing offers incremental wage hikes and benefits, but workers argue these fail to address long-term security concerns tied to retirement. Workers oppose 401(k) plans as they shift retirement risks onto employees, making savings less secure and predictable than traditional pensions. Pensions pose a problem for companies because they require long-term financial commitments to provide guaranteed retirement income.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Boeing machinists continue a seventh-week strike rejecting the latest contract proposal
00:06and demanding reinstatement of the traditional pension plan lost nearly a decade ago.
00:11Boeing offers incremental wage hikes and benefits,
00:13but workers argue these fail to address long-term security concerns tied to retirement.
00:18Workers oppose 401k plans as they shift retirement risks onto employees,
00:23making savings less secure and predictable than traditional pensions.
00:27Pensions pose a problem for companies because they require long-term financial
00:30commitments to provide guaranteed retirement income.
00:33For all things money, visit Benzinga.com slash GSTV.