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CHICAGO (AP) - United Airlines' flight attendants have overwhelmingly ratified an agreement for a defined-contribution retirement plan, their union said Friday in an announcement signaling the end of the union's rancorous battle against the company over pensions.
The union said more than 79 percent of flight attendants who cast ballots voted to approve the new pension plan, which replaces defined-benefit pensions terminated by the airline as part of its three-year bankruptcy restructuring.
The new plan, which is retroactive to Jan. 1, includes company direct and matching contributions beginning at 5 percent and escalating to 6 percent of a flight attendant's earnings within two years.
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