Spirit Aerosystems has presented a four-year contract proposal to its workers represented by the Machinists union.

The company sent the proposal Thursday to Local 839 of the International Association of Machinists and Aerospace Workers.   The company said it was informed by IAM leaders that they are recommending approval.

Spirit issued a statement saying they have submitted a fair and competitive contract that recognizes the important contributions of the factory employees and ensures that Spirit can successfully meet increasing demand for aircraft from its customers.

The IAM issued a statement with the major highlights of the contract:

·         Up to a compounded 34% average pay increase through general wages increases, cost-of-living adjustments, and a guaranteed annual bonus

·         Continued Core and Enhanced health insurance and additional seed money for HSA plans.

·         A 14.7% increase in retirement benefits, including a new 401(k) match of 50 cents on the dollar, up to 4% total.

·         Sunday overtime is now voluntary

·         Job security enhancements

·         Increased paid time off

The IAM has scheduled a vote on the contract for Wednesday, June 21st at Hartman Arena in Park City.