Boeing to end pension plans for non-union employees

|About: The Boeing Company (BA)|By:, SA News Editor

Boeing (BA +0.2%) says it will end pension plans for 68K non-union employees, including top executives, transitioning to a 401(k)-style retirement plan starting in 2016.

Boeing, which contributed $1.5B to its pension fund in 2013, expects to record a related $110M non-cash pension curtailment charge in its Q1 2014 results, in addition to $220M of previously announced charges related to recent labor agreements with union machinists.

Retirees already receiving pension benefits are not affected by the change.