Members of the International Association of Machinists and Aerospace Workers (IAM), Local 2707 ratified a new collective agreement on Feb. 6 with Waterloo Manufacturing in Waterloo, Ont.
The four-year agreement provides wage increases of 2.5 per cent in each of the first three years and three per cent in the fourth year, said the union.
Other agreement highlights include a removal of the cap on the IAM pension plan so that all overtime hours can be applied to the plan, a 33-per-cent increase in RRSP contributions, an extra week of vacation after 30 years of service, the employer will pay 100 per cent of uniform costs, and an improved safety-boot allowance, said IAM.
The 10 employees service and repair boilers for industrial and commercial applications across Ontario.
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