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Didn’t Boeing get rid of its pension plan? I don’t know the details but at least news interviews of striking union workers made it seem like a pension that they
by blackeyeblitzar 2y ago
Didn’t Boeing get rid of its pension plan? I don’t know the details but at least news interviews of striking union workers made it seem like a pension that they had worked for previously was then taken away, which seems unfair.
- jncfhnb 2y agoA quick Google suggests they stopped offering it and moved to a 401k, not that they just canceled their existing obligations. This is generally the popular move because pensions plans create huge liabilities over time because you’re promising a final outcome rather than a promised level of funding.
- ghaff 2y agoWhich is extremely common. A ton of companies moved away from defined benefit plans. There's still on the hook (in general) for existing obligations; they can't just go "never mind" for the most part. They've just focused on different retirement benefits going forward.