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.
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