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Diana Barr
St. Louis Business Journal|www.bizjournals.com/stlouis

Boeing Co. announced it will end the traditional pension plans for about 68,000 nonunion employees in 2016 and transition them to a company-funded defined contribution retirement savings plan.

Boeing employees, including managers and executives, who participate in the main Boeing and subsidiary defined benefit pension plans are affected by the change.

Starting Jan. 1, 2016, Chicago-based Boeing (NYSE: BA) will make cash contributions each pay period through a new component of the 401(k) plan. When they retire, employees will receive all benefits earned in the current traditional pension plan prior to the transition, and Boeing said it will continue to match employee savings in an existing 401(k) plan. read more »

 
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