WICHITA, Kan. (AP) — Machinists at Hawker Beechcraft in Wichita have voted to freeze their pension plan amid fears of losing it during the aircraft maker's bankruptcy restructuring.
Union officials say 97 percent of members voting Friday supported a proposal that retains pensions for hourly employees and retirees while freezing future accruals starting Dec. 31. It also creates a new retirement income savings plan and retains a 401(k) plan.
Union spokesman Frank Larkin says negotiations are especially complicated when one party is in bankruptcy. He says the company has assured the union that if the changes were ratified, the plan would become part of any sales agreement.
The bankruptcy court must still approve the contract changes.