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By Doug Cunningham

The International Association of Machinists is negotiating a new contract with Boeing and pensions are the top issue. Boeing CEO Jim McNerney has a $22 million retirement benefit package and workwers at Boeing are seeking improvements in their pensions of $60 per month for every year of serice to the company. Workers at Boeing want a cost of living adjustment factored in to pensions. The IAM also wants Boeing to contribute to a pension fund run by the union and to boost 401(k) contributions. Boeing says it will present a contract offer by August 30th.