Worried Boeing retirees are asking what happens to their pensions if Boeing does not survive this tragedy. In the worst case scenario, Boeing's pension plan would be taken over by the Pension Benefit Guarantee Corporation (PBGC). If this happens here's what your maximum benefit would be.
With Boeing 737 Max 8 jets grounded worldwide, and the search to assign liability in full swing,
. In the worst case scenario, Boeing's pension plan would be taken over by the Pension Benefit Guarantee Corporation . If this happens here's what your maximum benefit would be.PBGC's 2019 Guarantee LimitsThe numbers in the table are determined by a formula established by law about 40 years ago. Each year the guarantee limits go up, never down and they are set without regard to the financial condition of the plan.At the end of 2018, Boeing's pension plan had assets of $50.
You may wonder, how the PBGC can pay the same benefits even though Boeing's plans are underfunded. Who makes up for the shortfall? In researching this question last year for General Electric's pensioners, I spoke to an expert on the PBGC, on background, who explained that the shortfall is made up for by insurance premiums paid by pension funds that are still ongoing. PBGC receives no funds from general tax revenues. Like Fannie Mae and Freddie Mac, t
he PBGC is not backed by the full faith and credit of the U.S. government. No one knows who would pay if the PBGC couldn’t meet its obligations.If the PBGC took over Boeing's pension plan, the financial condition of the Single-Employer plan would suffer, but payments would not stop for years to come.
इंडिया ताज़ा खबर, इंडिया मुख्य बातें
Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।
Boeing drops on report FBI is joining criminal investigation into certification of Boeing 737 Max
और पढो »
The Broader Business Lessons From The Boeing 737 CrashWith air passengers expected to double by 2036, the global aviation industry will have to be held to a high standard while also growing at breakneck speed. What are the broader business lessons from the Boeing 737 MAX 8 crashes and how might you consider similar situations at your own organization?
और पढो »
Airlines fear long grounding of Boeing 737 MAX jets after Ethiopian crashPARIS/ADDIS ABABA (Reuters) - The grounding of Boeing's 737 MAX jets after the crash in Ethiopia has had no immediate financial impact on airlines using the planes, but it will get painful for the industry the longer they do not fly, companies and analysts said on Friday. Ethiopian Airlines Flight
और पढो »
After two fatal Boeing plane crashes, the world turned on the USDozens of countries and airlines have split from the Federal Aviation Administration in grounding Boeing's 737 Max airplanes after two fatal crashes.
और पढो »
Trump ties with Boeing CEO questioned after 737 Max groundedThe U.S. has grounded Boeing 737 Max planes after a second crash of the model in five months, bringing to light Donald Trump’s relationship with Boeing’s CEO. Retired airline captain and hero ‘Sully’ Sullenberger joins Joy Reid to discuss the importance of putting safety first in order to safeguard lives, and as a matter of best business practices.
और पढो »
U.S. and Boeing have long had a special relationshipWhen it comes to aircraft, Boeing has long been the government’s favorite.
और पढो »
Hallie in the House: Briefings, Boeing and the president's first vetoHallie in the House: The return of the press briefing, presidential power, and the Boeing ban
और पढो »
What The Boeing 737 MAX Teaches Us About Brands And InnovationThe twin tragedies with the Boeing 737 MAX raise weighty issues as they pertain to brands and innovation.
और पढो »
U.S. Grounds The Boeing 737 MAX As FAA Cites New EvidenceAfter regulators in dozens of countries halted flights of the plane, the FAA reverses its stance, saying new evidence shows similarities between two deadly crashes.
और पढो »
If you invested $1,000 in Boeing 10 years ago, here's how much you'd have nowIf you invested $1,000 in Boeing 10 years ago, here's how much you'd have now via CNBCMakeIt
और पढो »