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Local 905 members land smoothly into IAM Pension Plan, ratify agreement

01 October, 2019
For immediate release

Ajax, ON – Members of IAM Local Lodge 905 (Safran Landing Systems) ratified a collective agreement on Sunday evening, bringing to a close a successful round of Bargaining.

“Our members had a lot of questions about the IAM Multi-Employer Pension Plan,” said Gary Hynes, IAM Grand Lodge Representative, “but with the help of Neil Giroux, Grand Lodge Representative and Aerospace Coordinator; Ivana Saula, IAM Canadian Research Director, and Irene Perry, the Pension Plan Administrator, we clearly showed them the benefits of participating,” he said.

Hynes added, “The employer was winding down their Defined Contribution pension plan, so this was a great transition. The company will contribute into the plan based on our members’ age – from 7%, right up to 11.5%, while our members’ contributions will remain steady. This is a big win,” he concluded.

Dave Thompson, President LL905 and a veteran of contract negotiations said of the agreement, “This is the first time we reached a new deal before the pre-existing contract expired. We believe we got a fair deal and the membership is happy with the improved pension. “

The new collective agreement also includes general wage increases of 2% in the first three years to 3% in the final year of the 5-year agreement. The members also received increases in short- and long-term disability, a wider application of bereavement leave, improvements on the previous dental plan, life insurance and paramedical services.

Local 905 members in Ajax, Ontario work on landing gears, avionics and controls, surface finish technologies and protective packaging and enclosures.

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Information:
Gary Hynes, Grand Lodge Representative
Cell: (416) 579-0773

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This article was originally posted on the IAM Canada website. View the original post here: Local 905 members land smoothly into IAM Pension Plan, ratify agreement