Yes, if the contract offer is not ratified by 11:59 p.m. PT on August 21, 2026, these early “yes” vote incentives are deemed withdrawn and will not be offered again. The money would be diverted to the full activation of our contingency plan.
FAQs
VALUE OF AN EARLY "YES" VOTE
You can see the average value of an early "yes" vote on these fact sheets:
We wanted to do things differently in this negotiation. Instead of spending money on contingency planning we saw an opportunity to invest in our team. And we found a way to structure the deal to give our employees a chance to regain some of the ground they lost over the past few years due to inflation and realize the benefits of an early “yes” vote this year. So, in our view, this is a win-win for our employees and the company.
No, the current contract does not expire until October 6.
Yes, we have developed a contingency plan to ensure business continuity in the event of a work stoppage. It’s the right thing to do for our customers. But we’d rather invest the dollars in our employees in this contract offer instead of executing a contingency plan.
COMPENSATION
The 3% retroactive wage increase has two components.
First, your base pay will be increased by 3%, retroactive to February 20, 2026, and that higher rate would continue going forward. If you received a promotion or out of sequence adjustments after that date, your promotion or out of sequence increase would be on top of that 3% increase.
Second, you would receive a lump-sum payment for the extra pay you would have earned from Feb. 20, 2026, to the date the increase is put in place. That lump-sum payment would include the 3% increase on all eligible earnings during that period, including overtime hours, applicable pay additives, and any other pay increases received during that time.
The immediate 3% guaranteed wage increase will be reflected in paychecks as a lump sum payment as soon as possible, typically within 2-3 paychecks following contract ratification.
The guaranteed increase would vary with year-over-year inflation, with a range from 0-3%. But that’s just the minimum. Employees are still eligible for the remainder of the ACR funds above this minimum, which is no change from the current process. Further, the company is contractually required to spend the entire wage fund during ACR.
The 2% additional incentive payout will be reflected in paychecks as a lump sum payment as soon as possible, typically within 2-3 paychecks following contract ratification.
The Salary Adjustment and Performance Merit Funds are part of the Annual Compensation Review (ACR). Boeing must use the full ACR amount each year.
That means that in 2027, even with an assumed 3% minimum guarantee, all employees are eligible for the full 7% total fund. See total ACR wage funds outlined below for the life of the contract:
- 2027: 7.0% total
- 6.0% salary adjustment
- 1.0% performance
- 2028: 5.5% total
- 5.0% salary adjustment
- 0.5% performance
- 2029: 5.5% total
- 5.0% salary adjustment
- 0.5% performance
- 2030: 5.5% total
- 5.0% salary adjustment
- 0.5% performance
There is also a separate promotion and out-of-sequence adjustment fund of 0.5% per year. Any money not used in a given year must be rolled into the next year’s ACR fund.
This part of the process would stay the same as it is today. First, each employee would receive the guaranteed minimum wage increase. Then managers would divide the rest of the ACR funds among their employees based on individual performance.
Employees who meet expectations can generally expect to receive a salary increase in line with (or close to) the wage fund for that year and employees who are high performers and/or have low compa ratios have the opportunity to receive even more.
Exempt, salaried employees are rarely paid overtime in most industries. Boeing is unusual in that we have a long-standing practice of compensating our SPEEA professional employees for all hours worked. This is an industry-leading benefit that we continue to review and thus decided to increase this year to time + $8.50/hour. Because this benefit is tied to base salary, its value also increases as salaries rise over the life of the contract.
SPEEA-represented employees came into this negotiation at a different starting point than IAM 751 & W24 members. Prior to their current contract, members of IAM 751 & W24 had been in a long contract from 2014 – 2023 where they saw only 8% growth over the course of a decade. In several of those years, mechanics in the Pacific Northwest saw 0% or 1% increases.
During the same time frame, SPEEA Profs and Techs saw their wages grow more than four times faster than IAM 751 & W24. That doesn’t include lump sum payouts SPEEA-represented members also received during several of those years as part of the salary adjustment funds.
If the contract offers for SPEEA are ratified, wage growth for Profs and Techs would continue to outpace IAM 751 & W24.
RESTRICTED STOCK UNITS
If the contract is ratified, you will receive 40 RSUs that vest in one-third increments over three years. You must still work for the company on the grant date. You will get a Notice of Terms and other plan papers through Fidelity NetBenefits, and you must accept the Notice of Terms on time to get the award.
Interns are not eligible for this RSU grant and will instead receive a $2,000 cash payment following ratification.
If you retire from the company at age 55 or older with at least 10 years of service, or you retire at age 62 or older with at least 1 year of service, all unvested RSUs will immediately vest and you will receive your shares of stock, less applicable tax withholdings.
HEALTHCARE BENEFITS
The company would be providing all SPEEA-represented employees with a Health Reimbursement Arrangement (HRA) effective January 1, 2028 that would allow employees to get reimbursed for qualified healthcare expenses in retirement. The HRA would be 100% funded by Boeing and will match what the payable amount employees receive for their unused sick leave is when they retire.
For example, if an employee who is retirement eligible and receives $10K for their unused sick time, the company would also match an additional $10K into their HRA.
The company would be providing all SPEEA-represented employees with a Health Reimbursement Arrangement (HRA) effective January 1, 2028, that would allow employees to get reimbursed for qualified healthcare expenses in retirement.
The HRA would be 100% funded by Boeing and will match what the payable amount employees receive for their unused sick leave is when they retire. For example, if an employee who is retirement eligible and receives $10K for their unused sick time, the company would also match an additional $10K into their HRA.
The timing is set to allow for necessary time to establish the new plan including building eligibility rules, vendor contracting and vendor implementation.
The HRA funds are available for a period of 20 years following retirement or upon death, whichever comes first. A covered spouse would be eligible for qualified medical expenses.
Under the contract offer, the new ‘Access Only’ retiree medical coverage for employees hired on or after 1/1/2007 would be effective starting 1/1/28. Retirees will pay 100% of the premium. The ‘Access Only’ plan may be a better plan than is available on the retail insurance market, but individual results may vary. Importantly, this is an additional option that employees do not have now. The premium costs for the retiree medical plans for 2028 would be available next fall in advance of annual enrollment.
No, there are no changes to the retiree medical program for employees hired prior to 2007.
‘Access-only’ means the retiree can enroll in Boeing-sponsored pre-65 and/or post-65 Medicare plan options. The retiree pays the full premium for the plan.
You would be able to use Primary Care+ no later than January 1, 2027.
Boeing committed to providing fertility benefits for SPEEA-represented employees beginning January 1, 2027, even before negotiations began. This ensures our teammates can take advantage of these benefits as early as possible.
PERFORMANCE MANAGEMENT
Under the contract offer, there are no changes to the performance management process for 2026. In 2027, SPEEA-represented employees would participate in the Enterprise Performance and Development process. A few of the key changes include using the Enterprise Values and Behaviors (in place of the Performance Values) and moving to a three-point scoring scale (from a 5-point scale).
RETENTION
Under the contract offer, we would move from three bands of retention ratings to two bands.
The intent of the change to retention index groups is to simplify a process that isn't often used and that if used, has rarely exceeded 20% in any reduction in force (RIF). In the highly unlikely event that we were to encounter a reduction greater than 20%, skill teams would conduct further retention meetings to reevaluate the remaining R1 population against the new business realities and necessary skills required. That doesn't change whether it's the current 3-band or proposed 2-band structure. Further, employees will continue to maintain all appeal rights to challenge their retention ratings as established under the current contract.
FLEXIBLE WORK
On-site work is our baseline, but temporary or situational virtual work can be allowed with prior approval from your manager. Decisions will be based on business and collaboration needs, your role and performance, deadlines, and team dynamics. Long-term virtual arrangements will require approval from the organizational VP.
Each situation and set of circumstances is unique. Situational and temporary means that it’s occasional and time-limited (not recurring in perpetuity). You are encouraged to engage with your manager to further clarify your needs and explore how the Company may be able to support.
The letter of understanding was rewritten to put this flexibility into clearer contract language and to create more consistent expectations across organizations. It confirms that managers may approve temporary or situational virtual work requests as business needs allow.
If your manager already allows this, the change may feel small to you. The main change is that the language is now clearer and more consistent across the company.
There is new language in the letter of understanding defining this process. If unresolved after having a conversation with your first-line manager, then you may include your union representative in a discussion with your senior manager and manager to better understand why the request was denied. If you still do not agree with the senior manager’s decision, you may then pull in your HR contact to review the circumstances and attempt to reach agreement.