Thursday December 14, 2006
For Immediate Release
Mississauga, ON – Members of IAMAW Local Lodge 2243 have banked their future with the IAMAW pension plan as part of a new agreement at Volvo/Mack Truck.
“Our members have placed their faith in the IAMAW defined benefits pension plan,” declared IAMAW District 78 Directing Business Representative Gary Hynes. “They agreed to roll their current pension plan and their cost of living allowance into the IAMAW pension plan”. The new four-year agreement calls for a 2 per cent pension increase in the first year, a 2 per cent lump sum wage increase in the second year, a 2 per cent pension increase in the third year and a 2 per cent wage bonus in the fourth year. The 12 members who provide shipping and receiving services ratified the agreement by a 99 per cent margin.
The IAMAW, among the largest industrial trade unions in North America, represents more than 700,000 active and retired members, and administers more than 5,000 contracts in transportation, woodworking, aerospace, manufacturing and defense related industries.
