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“This contract, everything that was achieved, really starts to paint the picture of what everybody would like to have: long-term stable jobs that are a benefit for the employees, a benefit for the employers and a benefit for the community they operate in,� Mark Lauritsen, the head of the UFCW’s meatpacking and food processing division, told The Associated Press in an interview.

said the pension plan reflected its commitment to its workforce and the rural communities in which it operates.

“We are confident that the significant wage increases over the life of the contracts and the opportunity of a secure retirement through our pension plan will create a better future for the men and women who work with us at JBS,� the company said in a statement.

Lauritsen said pension plans used to be standard in the meatpacking industry but were cut in the 1980s as companies consolidated. Big meat companies like Tyson Foods and Cargill now offer 401 (k) plans but not pensions.

The union started discussing a return to pensions a few years ago as a way to help companies hang on to their workers, according to Lauritsen.

“The good thing about a 401 (k) is that it’s portable, but the bad thing about a 401 (k) is that it’s portable,� he said. “This was a way to capture and retain people who were moving from plant to plant, chasing an extra dime or a quarter.�

Workers hailed the plan.

“Everything now is very expensive and it's hard to save money for retirement, so this gives us security,� said Thelma Cruz, a union steward with JBS at a pork plant in Marshalltown, Iowa.

is unusual but not unheard of in the private sector. IBM reopened its frozen pension plan in 2023.

The contract increases average pay for to $23 to $24 per hour and establishes safety and ergonomic committees at every plant.

Paid sick leave — which rival Tyson Foods began offering in 2021 — was also hailed by workers in an industry .

The move could also help JBS in its effort to burnish its image ahead of a potential U.S. stock offering.

The company has wanted to list its share in both Brazil and New York for years, but has been thwarted by lawmakers, environmental groups and others who are of corruption and .

The U.S. Securities and Exchange Commission approved JBS's application to list its shares on the New York Stock Exchange last month, and the company's shareholders are scheduled to vote on the listing Friday.

But Lauritsen said the stock listing was never discussed during negotiations with the UFCW, and the union has no position on the listing.

“JBS is on a journey and we’re going to keep pushing them right along,� he said. “We're starting to see an employer that’s committed to long-term, stable jobs that help the worker and the community.�