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Some areas within Boeing offer a pension and 401k. Not pension or 401k. Why would someone want free money after working 20 to 40 yrs for a company? A 401k is mostly your money contributions and risk depending on the investment selection. A pension is free money from a great company to a dedicated employee...
Last edited by BOEING-STL; 02-24-2011 at 08:41 PM..
Yes. Boeing does have a pension plan. Any large company that does contract work for the government is required to give their employees a pension plan. They also have the 401-k. So, at this point they offer a pension plan but that may change in the near future.
A pension can also be cut or even lost if something happens to that company. Also, a pension can not be given to anyone else in the event of your death.
Not at all saying it is bad...just seeing both sides of the coin. I fully understand where you're coming from...and I'd take the free money also...right along with my 401k contributions and growth.
I was just wondering because I may consider employment at Boeing Charleston and have 6 previous years with Boeing STL.
Good Luck! There isn't one division of Boeing or their family of companies that doesn't have a pension. Regardless, it makes better sense to keep up with the 401k contributions as they will always be there, when the pension probably won't be. It doesn't hurt to be a shareholder either after yesterdays announcement of the Tanker contract.
FYI, as you stated before pensions are going away....
June 16, 2010 - In a move that deserves applause from union members everywhere, the members of District 837 in St. Louis, MO, voted overwhelmingly to reject a contract offer from The Boeing Company that would compensate current employees in exchange for eliminating the defined benefit pension plan for new employees.
27 June 2010 Boeing Co. machinists at a St. Louis fighter-jet plant won’t strike tomorrow after voting today to accept a proposed contract that will put new workers in a 401(k)-style pension.
The four-and-a-half year contract was accepted by a vote of 1,237 to 838, two weeks after union members rejected the contract. The contract leaves in a place a Boeing proposal to put workers hired after January 2012 into a 401(k)-style plan rather than a defined benefit plan. “I’m not sure they were voting in favor of the 401(k) plan, they were voting that Boeing would be adamant enough and harsh enough that even if they went on strike they still would not be able to retain a defined pension plan,” Pinski said.
Unless the pension plan is with the federal government, I have more trust in a self directed 401K...it's a no brainer.
Fortunately, Boeing SC won't have to worry about union votes...
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