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Boeing To End Pension Plan For Non-Union Employees In Shift To 401K Contributions

Cal Biesecker By
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Boeing To End Pension Plan For Non-Union Employees In Shift To 401K Contributions
Apache Attack Helicopter. Photo: Boeing

Boeing [BA] on Thursday said it plans to shift its existing pension plan for 68,000 non-union employees in favor of a 401K retirement savings plan to check its long-term pension liability and boost its competitiveness. Boeing said the change, which will begin on Jan. 1, 2016, will result in a non-cash pension curtailment charge of $110 million in its first quarter earnings. However, the company said it doesn’t expect the charge to have a material impact on its core earnings,…

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