Boeing defense workers ratify revised contract offer

WASHINGTON (Reuters) - A union representing nearly 2,500 workers at three Boeing defense locations in the St. Louis area voted to accept a revised three-year contract offer from Boeing Co.

The International Association of Machinists and Aerospace Workers (IAM) union said the new contract includes an $8,000 lump sum payment that can be deferred to an employee's 401(k), and continuing the 4% company contribution and 75% match on the first 8% of an employee's 401(k) contribution.

It also includes an average of a 14% general wage increase over three years, in addition to cost-of-living adjustments. The union had been set to go on strike on Aug. 1 before Boeing made a revised offer.

(Reporting by David Shepardson; Editing by Chris Reese)