--- description: Cost-cutting move will affect about 68,000 employees title: Boeing Cuts Pension Plans for Nonunion Employees image: https://static.time.com/v3/assets/bltea6093859af6183b/bltde093bcdab65f2d0/6988d9b9bc6cfc69913e2a3c/time-logo.jpg?branch=production --- * [World](/section/world/) ## World Update your preferences in [Account Settings](/account/preferences/) Close * [Companies](/tag/companies/) ## Companies Update your preferences in [Account Settings](/account/preferences/) Close # Boeing Cuts Pension Plans for Nonunion Workers by [Alex Rogers](/author/alex-rogers/) ## Alex Rogers Update your preferences in [Account Settings](/account/preferences/) Close Mar 7, 2014 3:26 PM CUT by [Alex Rogers](/author/alex-rogers/) ## Alex Rogers Update your preferences in [Account Settings](/account/preferences/) Close Mar 7, 2014 3:26 PM CUT Boeing [announced](http://boeing.mediaroom.com/2014-03-06-Boeing-Announces-Future-Retirement-Plan-Changes-for-Nonunion-Employees "undefined") Thursday that nonunion employees will have to transition from the company’s current pension plan to a new 401(k) plan, in an effort to reduce costs at the world’s largest aerospace company. The company, a leading manufacturer of commercial and defense jetliners, said all benefits earned in the current plan will be paid to employees in retirement until the switch is made in 2016\. Since 2009, Boeing’s hires from 28 unions and all new nonunion employees have been moved to defined contribution plans rather than the more generous pensions of yore. The company said the change would affect about 68,000 employees, out of [169,071](http://www.boeing.com/boeing/aboutus/employment/employment%5Ftable.page "undefined") total. Boeing said that the move would help the company “better predict and manage financial risks, while still providing its employees a market-leading retirement benefit.” ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/15676/boeing-cuts-pension-plans-for-nonunion-workers/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/15676/boeing-cuts-pension-plans-for-nonunion-workers/"},"headline":"Boeing Cuts Pension Plans for Nonunion Workers","datePublished":"2014-03-07T15:26:37.000Z","dateModified":"2026-02-21T06:38:46.689Z","description":"Cost-cutting move will affect about 68,000 employees","url":"https://time.com/15676/boeing-cuts-pension-plans-for-nonunion-workers/","keywords":["Companies","Aviation","Boeing"],"thumbnailUrl":"","author":[{"@type":"Person","name":"Alex Rogers","jobTitle":null,"url":"https://time.com/author/alex-rogers/"}],"articleSection":"World","image":[],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/world/","name":"World"}},{"@type":"ListItem","position":2,"item":{"@id":"/tag/companies/","name":"Companies"}},{"@type":"ListItem","position":3,"item":{"@id":"https://time.com/15676/boeing-cuts-pension-plans-for-nonunion-workers/","name":"Boeing Cuts Pension Plans for Nonunion Workers"}}]}] ```