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UAW Members Approve New Agreement with Lockheed Martin

9 November 1999

UAW Members Approve New Agreement with Lockheed Martin

    DETROIT, Nov. 8 -- UAW members at Lockheed Martin facilities
in Denver, Colorado (UAW Local 766); Orlando, Florida (UAW Local 788); and
Baltimore, Maryland (UAW Local 738) ratified their new master agreement by an
81 percent majority in voting conducted on Saturday, November 6.
    "The UAW Team at Lockheed Martin did an outstanding job of strengthening
the economic security of UAW members and their families," said UAW President
Stephen P. Yokich.  "We're gratified by the membership's solid support for
this new master agreement."
    The UAW negotiating team was led by Vice President Ron Gettelfinger, who
directs the UAW National Aerospace Department, UAW Region 8 Director Bobby Lee
Thompson, and UAW Region 5 Director Jim Wells.
    "The keys to reaching this new agreement were the hard work and solidarity
of the 14-member UAW Lockheed Martin Negotiating Committee," added
Gettelfinger.  "They did a great job of representing the membership."
    The new four-year contract provides UAW-represented Lockheed Martin
workers with an up-front $1,800 lump-sum payment, 3 percent general wage
increases in the second and fourth years, a 3 percent lump-sum payment in the
third year, and continued protection against inflation.
    Pension benefits are increased from $37 to $43 per month per year of
credited service for retirements on or after January 1, 2000.  The new
agreement also strengthens retirement security with an improved 401(k) savings
plan that, for the first time, features a matching contribution by the
corporation.
    Health care coverage is maintained with no increases in premium sharing,
co-payments, or deductibles.  In addition, dental and vision benefits are
improved.
    The UAW-Lockheed Martin master agreement covers approximately 1,100
workers at the corporation's facilities in Denver, Orlando, and Baltimore.