33,000 Boeing Workers End Strike: No Pension in New Contract, but 401(k) Contribution Boost

Retirement plans were a hot button issue for union workers, but Boeing says pension plans are "prohibitively expensive."

By Lynn Cavanaugh | November 06, 2024 at 11:45 AM

While the 33,000 Boeing machinists did not end the strike on Monday with a renewed pension plan, the two-month strike did give them a boost to 401(k) contributions and their paychecks. The workers' strike, which halted airplane manufacturing at plants around the Northwest, ended with a 59 percent vote in approval of the contract offer from Boeing.

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Retirement & Benefits

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Another Pension Plan Risk-Transfer Lawsuit: Lumber Firm Sued over Its $1.5 Billion Transfer to Athene Annuity

By Lynn Cavanaugh | December 19, 2024

Employees of Seattle-based Weyerhaeuser Company filed a class-action lawsuit over the transfer of plan assets to Athene Annuity & Life Assurance, alleging a breach of fiduciary duty, according to law firm Schlichter Bogard.

Another Pension Plan Risk-Transfer Lawsuit: Lumber Firm Sued over Its $1.5 Billion Transfer to Athene Annuity

How to Hedge the Interest Rate Exposure in Cash Balance Plans

By John Southall and Andrew Carter and Sabrina Ren | November 21, 2024

Many companies mitigate the interest rate risk of their cash balance plans with floors using a binary approach. Here’s a better option.

How to Hedge the Interest Rate Exposure in Cash Balance Plans

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By being prepared and implementing strategic solutions, employers can mitigate some of the financial pressures that may arise from the IRA, ensuring that their employees and retirees are better protected from the ripple effects of this landmark legislation.

The Inflation Reduction Act’s Implications for Employer-Sponsored Health Plans

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