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Boeing may see hundreds of veteran engineers retire this fall ahead of a pension adjustment that will dramatically slash the payouts to those who choose to take the money in a single lump sum. The interest rates used to determine the lump sum will be updated in November, after which one 35-year Boeing employee calculates that his payout will be cut by more than $200,000. . Matt Kempf, senior director for compensation and retirement for SPEEA, estimates around 600 or 700 experienced local engineers and technical staff close to retirement will have to at least consider an early exit.
Boeing may see hundreds of veteran engineers retire this fall ahead of a pension adjustment that will dramatically slash the payouts to those who choose to take the money in a single lump sum. The interest rates used to determine the lump sum will be updated in November, after which one 35-year Boeing employee calculates that his payout will be cut by more than $200,000. . Matt Kempf, senior director for compensation and retirement for SPEEA, estimates around 600 or 700 experienced local engineers and technical staff close to retirement will have to at least consider an early exit.
For better or worse…We’ll never forget 2020
COVID-19 overshadowed everything, but there were some memorable sports moments this year.
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An empty ballfield tells the story of 2020, a year that saw the cancellation of the spring sports season due to the COVID-19 pandemic. File photos.
It was a year that no one could have imagined and was a year that we’ll never forget.
All of the spring sports season, part of the fall campaign and now the start of the winter season have been affected by COVID-19.
While frustration and disappointment have characterized 2020 more than anything else, there were some athletic highlights and that shouldn’t be forgotten.