US - The union involved in ongoing discussions with Boeing over pay and pension agreement has urged members to strike.
Late last week, Boeing made its 'best and final' offer to employees, which included an 11% wage increase over three years, a pension increase to US$80 a month for each year of credited service, a lump sum equal to the greater of 6% of pay or $2,500, and enhanced healthcare coverage.
The union said the proposal by Boeing "fell far short of expectations".
IAM said Boeing "missed the mark in regards to pension". It added: "This proposal did not address the alternate formula, and the basic benefit did not meet what [members] told us would be respectable and an acceptable level."
In a statement, Boeing said: "The company is extremely disappointed that the union is recommending that our employees reject what adds up to be the best contract in the aerospace industry.
"We offered employees a significant increase in pay and pension, and we maintained our outstanding healthcare benefits. Our best and final offer rewards employees for the company's success and allows us to remain competitive."
Pension freedoms could generate as much as £1.9bn a year in tax revenue for the next 10 years, according to research by the Pensions Policy Institute (PPI).
The Pension Protection Fund (PPF) has conceded it does not have "all the data we need to calculate" the impact of last month's ruling that some benefits may be unlawful.
A looming court decision on gender equalisation of pension schemes could hit FTSE 100 profits by up to £15bn, Lane Clark and Peacock (LCP) says.
Dutch custodian KAS Bank has created a fintech solution to help schemes save on costs and improve transparency of currency hedging strategies.