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
The parts of pay
Pay can include several components:
Additives (shift differential, weekend
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
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
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.