Boeing Frontiers
May 2003
Volume 02, Issue 01
Top Stories Inside Quick Takes Site Tools
Special Feature

Did you know?

• For 2002, the expenses for benefits coverage at Boeing (as a percent of operating expenses) were 10.2 percent, compared to industry mean of 7.9 percent.

• Since being founded in 1951, the Employee Community Fund has coordinated more than $400 million of donations from employees and retirees.

• In 2002, Boeing paid out $2.2 billion in pension benefits to retirees or their beneficiaries.

• Five Career Transition Centers across the United States help laid-off employees through career counseling, workshops, job-search assistance, resume writing, access to computing and business equipment, and referrals to community and social services.

• In 2002, Boeing employees donated more than 18,000 units of blood, which helped more than 54,200 people.

• The Boeing Education Network is an interactive televised system that provides learning opportunities to more than 80 sites.

The parts of pay

Pay can include several components:

• Base pay

• Additives (shift differential, weekend differential, overtime)

• Paid time off (sick leave, holidays, vacation, jury duty, etc.)

• Incentive pay (Employee Incentive Plan, cash awards, stock grants, gainsharing plans and other performance-based bonuses, and lump sum wage payments)

• Employer-payments to Social Security, workers comp and other government programs

Unsung benefits

In addition to health benefits (medical, dental, vision), Boeing provides a variety of group benefits. Often, these are benefits that people don't think about:

• Pre-tax, annual reimbursement accounts for health care and dependent care

• Life insurance (basic and supplemental)

• Short- and long-term disability plans

• Business travel accident insurance

• Accidental death and injury coverage

• Layoff benefits

These benefits plans have some little-known features to help employees, especially in times of need. For example, many of Boeing's life insurance plans have an accelerated benefit feature. If the employee or spouse becomes terminally ill while covered under the life insurance plans, they may be able to receive up to 50% of their life insurance benefit.



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