Huntington Ingalls Industries (HII) said Thursday that that United Steelworker members at its Newport News Shipbuilding, or NNS, division voted in favor of a new contract that took effect March 11 and will run through July 9, 2017.
Salient features of the contract included:
- Wages: On day one, all represented employees receive 3.5 percent increases. The next 13-month increment will be a 3 percent increase, followed by a 3.5 percent increase for each of the last two 13-month periods of the contract.
- Pension: For employees hired on or before June 6, 2004, who retire at age 62 with 30 continuous years of service, the monthly pension increases to $1,450 starting Augist.
In addition, there will be a $25 per year supplement given to employees for each year of credited service after 30 years. The monthly pension increases to $1,550 beginning August 2015, and the yearly supplement will increase to $30 per year for each year of credited service after 30 years.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.