07:28 AM EDT, 10/21/2024 (MT Newswires) -- Boeing's ( BA ) striking machinists will vote Wednesday on a new contract proposal that includes a 35% pay increase over four years, IAM District 751 said on Saturday.

The latest proposal includes a $7,000 ratification bonus, reinstated incentive plan, and enhanced contributions to 401(k) retirement plans, including a one-time $5,000 contribution and up to 12% in employer contributions.

The company proposed to increase wages by 12% in the first year, 8% in the second and third years, and 7% in the fourth year.

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