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PENSION PLANS: RETIREES


As of July 1, 2022, Fidelity Investments® is the new service provider for Boeing’s pension plans. This service provider transition did not change the pension plan or the pension benefits you’ve accrued, if eligible. You do not need to take any action for the administration of your pension payments to transfer to Fidelity.

Pension Scenarios

To learn more about several common pension participant scenarios,
click here.
Retirees who are currently receiving pension payments will continue to receive pension payments without interruption. Your payments are secure.

What remains the same:

  • In most cases*, your Boeing pension payment will be issued each month and sent to you via the same method you receive it now.
  • Your deductions, including health insurance if applicable, will continue to be deducted from your pension as they are today.
  • Your Medicare Part B Reimbursement, if applicable, will continue via the same method you receive it now.


Beginning with your pension payment of July 1, 2022, retirees may have noticed these changes:

  • Electronic Funds Transfer or direct deposit will come from Fidelity (not State Street Bank).
  • Paper checks will be sent from Fidelity Investments (not State Street Bank).
  • Minor differences in deductions due to tax calculation or rounding changes are possible.


Note: Retirees who receive a check via the U.S. Postal Service may wish to establish direct deposit to have your payment deposited directly into your bank account each month. If you choose to set up direct deposit, or currently have direct deposit and want to make a change, your election may not take effect immediately with your next pension payment. To set up or change direct deposit elections:

  • You will have the option to elect or change direct deposit with the Boeing Financial Benefits Service Center (Fidelity) online at NetBenefits.com/Boeing or by calling 866-422-3539, requesting Pension at the prompt. Deaf or hard of hearing callers should place a call through their preferred relay service.

 

Investing involves risk, including risk of loss.

Every effort has been made to provide accurate information in this summary. The information is for informational purposes only; it does not constitute a contract or contractual obligation. In the event of a conflict between this summary and The Boeing Company 401(k) Retirement Plan document, the terms of The Boeing Company 401(k) Retirement Plan document will control. Copies of plan-related documents are available by written request to the Plan Administrator at the address provided in the plan’s summary plan description booklet. The Boeing Company reserves the right to change, modify, amend, or terminate any or all of the provisions of the plan at any time and for any reason for employees, former employees, retirees, and their dependents and/or beneficiaries, subject to an applicable collective bargaining agreement.

Edelman Financial Engines® is a registered trademark of Edelman Financial Engines, LLC. Used with permission. Edelman Financial Engines is not affiliated with Fidelity Investments or its affiliates.

The Boeing Company and Fidelity Investments are not affiliated. Fidelity is a service provider to Boeing.

The third parties mentioned herein and Fidelity Investments are independent entities and are not legally affiliated.

Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917

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