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One of the most painful issues dividing labor and management in the strike at Boeing is the loss of the traditional pension plan for union members in 2014. Boeing union members are angry they lost ...
Boeing workers' efforts to restore the traditional pension plans it ditched a decade ago feels to many like a long shot, as reinstating such a structure could exacerbate the planemaker's shaky ...
Boeing's largest union urged new CEO Kelly Ortberg on Tuesday to get more involved in contract negotiations to end a strike by around 33,000 U.S. West Coast workers, after the U.S. planemaker cut ...
The Pension Benefit Guaranty Corporation (PBGC) is a United States federally chartered corporation created by the Employee Retirement Income Security Act of 1974 (ERISA) to encourage the continuation and maintenance of voluntary private defined benefit pension plans, provide timely and uninterrupted payment of pension benefits, and keep pension insurance premiums at the lowest level necessary ...
The government contributes 72% of the weighted average premium of all plans, not to exceed 75% of the premium for any one plan (calculated separately for individual and family coverage). [1] The FEHB program allows some insurance companies, employee associations, and labor unions to market health insurance plans to governmental employees.
The Federal Employees' Retirement System (FERS) is the retirement system for employees within the United States civil service. FERS [1] became effective January 1, 1987, to replace the Civil Service Retirement System (CSRS) and to conform federal retirement plans in line with those in the private sector. [2] FERS consists of three major components:
Beyond the 33,000 union members out of the nearly 150,000 US employees, the company estimates its own annual contribution to America’s economy to be $79 billion, supporting 1.6 million jobs ...
Boeing has a huge backlog of orders, which it values at more than $500 billion. The company's defense and space business is a major government contractor, although that business too is struggling.