Summary of Lockheed Martin’s Economic Proposal as of April 6, 2022

Duration – 5 year and 2-month contract.

Ratification Bonus = $1,000.00 within 60 days of ratification and $1,000.00 around 24 February 2023.

General Wage Increases – year (1) = 2.5%, years (2) thru (5) = 2.0% each year.

Cost Of Living Payments – Capping the COLA adjustments at twenty-five cents (0.25) per year.

Supplemental Cost of Living Payments – $825 each year.

Automatic Progression Raises – No increase.

Shift Premiums – Additional twenty cents (0.20) per hour for 2nd Shift.

Medical Plans – Terminate the LM Healthworks plan and replace with a High Deductible Health Plan (HDHP) at a 90% company 10% employee cost share. Legacy plans remain: 85% company 15% employee cost share for POS, and 87% company and 13% employee cost share for HMO without caps.

Health Saving Account (HSA) – For employees on the new HDHP who open an HSA the Company will contribute $1,250.00 for single coverage and $2,500.00 for family coverage into the account to offset some of the higher deductibles.

Retirement Benefits/IAM 401K – A two-dollar ($2.00) pension improvements to $102.00, No change to IAM 401(k),   Parental Leave – New benefit up to 160 hours.  Bereavement Leave Pay – increased to 40 hours.

Overtime – The Company still has a proposal to take away your daily overtime pay by requiring you to work forty (40) hours before triggering one and one-half (1-1/2) rate and requiring you to work forty-eight (48) hours to trigger double time.


Work Schedules – Company still has multiple schedules in their proposal with a broader use of 3/12’s.


ACP – Step triggered for having 4 part day absences in two consecutive review periods.


Your Union Negotiating Committee has been hard at work on the Non-Economic part of these negotiations. There have been many meetings and subcommittee meetings to discuss several different topics including job studies, shift change, overtime, a Lead position and more.

The Company still has a proposal on the table that takes away your daily overtime by requiring employees to work 40 hours before triggering the payment of time and a half, and then requiring you to work 52 hours before triggering double time.

The Company has also proposed the following Mandatory overtime language: Overtime is a necessary part of each employee’s job duties, and each employee is required to work their fair share of offered overtime. Where the overtime need is not met after asking for volunteers, first within the department, and then outside the department, the Company will schedule junior employees to work overtime. In the event that a junior qualified employee is scheduled to work overtime three (3) times in an accounting month, that employee will not be scheduled again to work overtime in that accounting month, and instead the Company will schedule the next employee in that classification in reverse seniority order to work the overtime assignment.”

If work is slow the Company wants to be able to force you to take 80 hours of your vacation time, and the Company has a proposal to make it easier for them to discipline employees without the employee having a right to challenge the discipline through the grievance procedure.

We have a long way to go and a short time to get there, but your Committee is committed to doing whatever it takes to deliver a good contract for the membership vote on April 24th!!!