Striking Boeing workers aim to restore old retirement program [Video]

Some 33,000 Boeing workers have been on strike for seven weeks after twice voting down labor contracts, with the latest rejected offer featuring a 35 percent wage hike.

But a sticking point for many workers has been Boeing’s refusal to reestablish a discarded pension plan.

The plan was eliminated after a 2014 contract extension was narrowly approved by the union, the International Association of Machinists and Aerospace Workers District 751.

But Boeing views its refusal to reinstate the pension as a non-negotiable item.

“There is no scenario where the company reactivates a defined-benefit pension for this or any other population,” Boeing said.

“They’re prohibitively expensive and that’s why virtually all private employers have transitioned away from them to defined-contribution plans.”

More than 151 million private sector employees currently have retirement plans, according to the US Department of Labor.

But less than six percent of the 800,000 programs have a defined …