December 09, 2016
Beginning December 22, over 26,000 IAM members at United Airlines will receive their final lump sum payout.
The total value of the payout is $2.3 million and is the final contractually-required payout of more than a quarter billion dollars in retro and lump sum payments negotiated by District 141 since 2014.
This payout is in addition to base wage rates in IAM contracts that increased this year by an average of 19% and will increase in 2021 to an average of 32%.
Payments will be made on paychecks through the end of December and will be distributed equally to each eligible IAM member.
“Our members deserve everything they receive because they are an integral part of making United successful again,” said District 141 President Mike Klemm. “These payouts are the result of the continued solidarity shown by our members at United.”
The new agreements, reached in April, also provide a 25% increase to IAM members’ National Pension Plan and improvements to their job security.