Are You Leaving Money on the Table?

Boeing is widely recognized as one of the most generous employers in the aerospace and defense industry — and for good reason. The company's benefit package is expansive, combining a powerful 401(k) plan with an industry-rare employer match, a Supplemental Savings Plan for high earners, an Employee Stock Purchase Program, and a robust suite of health, wellness, and insurance benefits. Yet year after year, thousands of Boeing employees retire having never fully unlocked what they earned.

The problem is the complexity of managing and coordinating these benefits. Between the Boeing 401(k), the Supplemental Savings Plan (SSP), the Boeing Employee Stock Purchase Plan (BESPP), E-Series compensation, HSAs, and healthcare options, it can feel nearly impossible to know where to start — let alone how to optimize everything working together.

"For many people, asking for help can be difficult, leading to fear and inaction. From our observations, this is what most often leads to suboptimal outcomes. The best way to combat this is through education." — James S. Falcone, AIF, Co-Founder & Managing Director, Fulcrum Wealth Advisors

This guide is designed to cut through that complexity. Whether you're a new Boeing employee in your first year or a veteran engineer counting down the months to retirement, these pages will help you understand every major benefit available to you in 2026, the key decisions you need to make, and the strategies that can help you retire with confidence.

The Boeing 401(k) — The Boeing 401(k)

What is the Boeing 401(k)?

The Boeing Company 401(k) Retirement Plan is the cornerstone of your retirement savings at Boeing. Managed through Fidelity Investments, the Boeing 401(k) allows you to contribute a portion of your paycheck on a pre-tax, after-tax, or Roth basis, while also receiving one of the most generous company matches available among large U.S. employers.

The Company Match: Don't Leave Free Money Behind

For eligible non-union employees, Boeing matches contributions dollar-for-dollar on the first 10% of eligible pay. That match is 100% immediately vested — meaning it belongs to you from day one, regardless of how long you remain at the company. This is genuinely exceptional in the corporate world, where most 401(k) matches vest over two to six years and typically top out at 3–6% of pay.

Pro Tip: Contributing at least 10% of your eligible pay is critical to capturing your full Company Match. Anything less is leaving guaranteed compensation on the table.

2026 Contribution Limits

In 2026, the IRS has updated 401(k) contribution limits as follows:

• Standard employee contribution limit (under age 50): $24,500

• Standard catch-up contribution (age 50-59 and 64+): an additional $8,000, for a total of $32,500

• Super catch-up contribution (ages 60-63, per SECURE 2.0): an additional $11,250, for a total of $35,750

The super catch-up provision is one of the most significant changes introduced by the SECURE 2.0 Act, and 2026 is the first year it is fully in effect. If you are between the ages of 60 and 63 at any point during 2026, this higher limit now applies to you. With this change, these catch-up contributions must now be made on a Roth (after-tax) basis for higher-income employees. This is a meaningful change from prior years when you could direct them to traditional pre-tax accounts.

Contribution Types: Pre-Tax, Roth, or After-Tax?

The Boeing 401(k) offers three contribution types, and choosing the right mix is one of the most impactful financial decisions you can make:

Pre-Tax Contributions

Reduces your taxable income today. Taxes are deferred until withdrawal in retirement, ideally when you may be in a lower tax bracket. This is often the best choice for employees at or near peak earnings.

Roth Contributions

Made with after-tax dollars. Qualified withdrawals in retirement are completely tax-free — including all the growth. This is particularly powerful for younger employees and for those expecting higher tax rates in retirement.

After-Tax Contributions

Exceeds the pre-tax/Roth limits. These contributions are not pre-tax, but they can be converted to Roth through the 'Mega Backdoor Roth' strategy (which we will discuss later), making them a powerful tool for high earners.

Investment Options and Advice Services

The 401(k) offers a broad menu of investment options, including index funds, target-date funds, and access to the Edelman Financial Engines advisory platform. Through this platform, Boeing employees can access:

• Online Advice: Personalized investment recommendations can be found via NetBenefits.com with no additional fee.

• Professional Management: A fee-based service where Edelman Financial Engines automatically manage your 401(k) investments.

• Personal Advisor: A dedicated outside advisor who can build and implement a comprehensive investment plan. Typically, this fee is around $20 per month and comes with no contract or long-term obligation.

These services are a valuable resource, particularly for employees without a dedicated financial advisor. That said, they are most effective when integrated into a holistic retirement plan that accounts for all of your Boeing benefits working together.

Student Loan Match: A Benefit Unique to Boeing

Boeing introduced a student loan match feature that allows enrolled employees to have their qualified student loan payments counted toward the Company Match calculation — even if they are not contributing to the 401(k) themselves. This means that if you are paying off student loans and struggling to contribute to retirement simultaneously, you can still receive Boeing's matching contributions based on your loan payments. This is an amazing benefit that few employers currently offer.

The Supplemental Savings Plan (SSP) For High Earners

What Is the Boeing SSP?

The Boeing Supplemental Savings Plan (SSP) is a non-qualified deferred compensation plan designed for employees who have maximized their 401(k) contributions and still want to save more. Once you reach the IRS annual additions limit in your 401(k), the SSP lets you continue contributing and receiving Company Match on those additional dollars, on base pay only, up to the same 10% matching threshold.

How the SSP Works

Like the 401(k), SSP contributions are made on a pre-tax basis, reducing your current taxable income. Taxes are deferred until withdrawal. The SSP offers a wide array of investment options similar to those in a 401(k). However, there is one critical distinction: unlike 401(k) funds, SSP balances are not protected by ERISA. In the event of Boeing's bankruptcy, SSP assets could be at risk from the company's creditors. This is a real consideration for long-tenured employees with large SSP balances.

Important Planning Note: SSP elections do not carry over from year to year. You must re-enroll each year before the annual enrollment deadline (typically early December). Missing this window means forfeiting a full year of above-limit matching contributions.

Who Should Consider the SSP?

• Employees who are on pace to hit the IRS 401(k) annual additions limit (approximately $69,000 in 2026 for employees under 50, including employer contributions)

• Employees in executive or E-Series compensation tiers who want to maximize deferred income

• Employees planning for retirement within five to ten years who want to accelerate savings

Because SSP contributions lock in your rate for the entire calendar year, careful planning before enrolling is essential. Consult with a financial advisor to model whether the additional tax deferral and matching contributions outweigh the lack of ERISA protection.

The Boeing Mega Backdoor Roth — Retire with More Tax-Free Income

What Is the Mega Backdoor Roth?

The Mega Backdoor Roth is one of the most powerful — and most underutilized — retirement savings strategies available to Boeing employees. It allows you to contribute after-tax dollars to your 401(k) above the standard pre-tax and Roth limits, and then convert those dollars to Roth, creating a pool of tax-free growth for retirement.

How It Works at Boeing

The IRS annual additions limit (Section 415 limit) for 2026 is approximately $69,000 for those under 50. This is the total combined cap on all contributions — your employee contributions plus Boeing's matching contributions. The difference between this limit and your regular pre-tax/Roth contributions and employer match represents the 'gap' that can be filled with after-tax contributions. Those after-tax contributions can then be converted to a Roth account, allowing all future growth to be tax-free.

Example: If you contribute $24,500 pre-tax and Boeing contributes $15,000 in matching funds, you still have room for approximately $29,500 in after-tax contributions. Converted to Roth, this becomes an additional $29,500+ of tax-free retirement savings per year.

Not every employee will have the cash flow to maximize this strategy. But for those who do — particularly high earners in the final decade before retirement — the Mega Backdoor Roth can add hundreds of thousands of dollars of tax-free income to retirement.

Health, Insurance, and Wellness Benefits

Medical Coverage

Boeing provides health insurance through Blue Cross Blue Shield of Illinois (BCBSIL) for most employees. During the annual enrollment period (held each November), you can choose from multiple medical plan options covering different premium and out-of-pocket cost structures. Boeing's 2026 annual enrollment window ran from November 3 to November 21, 2025, with coverage effective January 1, 2026.

Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs)

Boeing employees enrolled in a qualifying High-Deductible Health Plan (HDHP) can contribute to a Health Savings Account, one of the most tax-efficient vehicles in the entire tax code. HSA contributions are triple-tax-advantaged: contributions are pre-tax, growth is tax-free, and qualified withdrawals are tax-free. In retirement, after age 65, HSA funds can be used for any purpose (subject to ordinary income tax if not used for medical expenses), effectively making them function like a traditional IRA.

For employees not enrolled in an HDHP, Flexible Spending Accounts allow pre-tax contributions to cover qualified medical and dependent care expenses, thereby reducing taxable income.

Emotional Wellbeing and EAP

Boeing's benefits package includes meaningful support for mental and emotional health. Spring Health provides personalized mental health care and an Employee Assistance Program (EAP) with access to licensed therapists and counselors. These services are available at no cost to Boeing employees and their dependents. Vida Health and Total Brain platforms offer digital support for stress, anxiety, and mindfulness — available to employees and covered spouses enrolled in Boeing-sponsored medical plans.

Physical Wellbeing

Boeing operates fitness centers at most major campuses, open 24/7, and available to eligible spouses and dependents. For employees who prefer community fitness centers, Boeing provides membership subsidies. The Hinge Health program supports employees dealing with chronic back or joint pain, offering coach-guided exercise programs with motion sensors — available to employees enrolled in BCBSIL-administered plans.

Medicare Transition for Retirees

When approaching age 65, Boeing coordinates the Medicare transition proactively. About 60 days before your 65th birthday, Boeing Worklife will send instructions for enrolling in Medicare and submitting your Medicare Beneficiary Identifier (MBI) to the Boeing Service Center for Health and Insurance. Boeing's Senior Supplemental Design Center (SSDC) helps pre-Medicare retirees find Medicare Advantage supplemental plans outside Boeing's coverage.

Boeing Employee Stock Purchase Plan (BESPP)

What Is the BESPP?

The Boeing Employee Stock Purchase Plan (BESPP) allows eligible employees to purchase Boeing Company stock at a discount using after-tax payroll deductions. Purchases are made through the same Fidelity platform as the 401(k). The current discount structure applies to the market price at the time of purchase, and shares are immediately liquid upon deposit into your Fidelity account.

Key Details for 2026

• Discount: Approximately 5% on the purchase price of Boeing stock

• Payroll Deduction Range: Typically, 1% to 15% of the eligible base salary

• IRS Annual Cap: $25,000 in fair market value of stock purchased per calendar year

• Tax Treatment: The discounted portion is taxed as ordinary income at the time of sale; any additional gain is taxed as capital gain

BESPP Strategy Considerations

The BESPP is essentially free money: you are purchasing stock at a guaranteed discount to market value before any market appreciation. However, a thoughtful BESPP strategy should consider your total Boeing stock exposure. Many Boeing employees already have significant company stock in their retirement accounts through employer-matching contributions. Over-concentration in a single company — especially your employer — represents meaningful portfolio risk. A good practice is to purchase through the BESPP and then sell promptly to diversify, rather than holding large positions.

E-Series Compensation and Equity Awards

Who Are E-Series Employees?

Boeing's E-Series designation covers executive and senior-level employees who receive enhanced total compensation packages, including additional equity awards, non-qualified deferred compensation opportunities, and elevated benefits. If you are in an E-Series role, your retirement planning complexity increases substantially — and the decisions become more consequential.

Restricted Stock Units (RSUs) and Stock Options

E-Series and select employees may receive RSUs and/or stock options as part of their compensation. RSUs typically vest over three to four years, delivering shares to you upon vesting. Non-qualified stock options (NQSOs) give you the right to purchase Boeing shares at a set price (the grant price), which creates value if the stock appreciates above that price before the options expire.

The tax treatment of equity awards is nuanced. RSU vesting is a taxable event, with shares delivered being treated as ordinary income. Options have different tax consequences depending on whether they are incentive stock options (ISOs) or NQSOs, and depending on when and how you exercise and sell. Coordinating the timing of equity events with your overall tax situation — including retirement contributions, Roth conversions, and capital gains management — is one of the most complex and high-value exercises in Boeing retirement planning.

Non-Qualified Deferred Compensation

In addition to the SSP, E-Series employees may have access to additional non-qualified deferred compensation arrangements. These plans allow you to defer substantial income above and beyond the SSP, delaying taxation until a later year when you may face a lower tax rate. Like the SSP, these plans carry creditor risk and require careful analysis of the trade-off between tax savings today and financial risk exposure.

The Boeing Pension — For Eligible Employees

Does Boeing Have a Pension?

For most current Boeing employees hired in recent years, there is no traditional defined-benefit pension plan. Boeing shifted away from defined-benefit pension accruals for non-union employees several years ago, replacing them with the enhanced 401(k) match described above. However, certain employees — particularly long-tenured workers hired before the freeze, and certain union-represented workers covered by collective bargaining agreements — may have vested pension benefits.

The 2024 IAM strike, which affected approximately 30,000 Boeing machinists, highlighted the ongoing importance of pension benefits in union negotiations. The settlement that ended that strike included retirement-related enhancements, and the landscape of pension benefits for union employees continues to evolve.

Lump Sum vs. Monthly Pension Payments

For employees with vested pension benefits, one of the most consequential decisions at retirement is whether to take the pension as a monthly annuity or a lump-sum payout. This is not a simple calculation.

A monthly annuity provides guaranteed lifetime income — a hedge against longevity risk and investment market volatility. A lump sum gives you control, flexibility, and the potential for higher returns if invested wisely, but transfers all risk to you. The relative attractiveness of each option is heavily influenced by prevailing interest rates (higher rates generally reduce lump sum values), your health and life expectancy, your other income sources, and your tax situation.

Key Question: What is the 'breakeven'? How long do you need to live for the monthly payments to exceed the lump sum value? And do you have sufficient other assets to weather a bear market if you take the lump sum?

Pension Survivor Benefit Options

If you have a spouse or domestic partner, your choice of survivor benefit election on the pension is critical. Electing a 100% joint and survivor benefit provides income security for your spouse if you die first — but reduces your monthly payment. A 50% survivor benefit is a middle ground. No survivor benefit maximizes your monthly check but leaves your spouse with nothing if you predecease them. This decision cannot be reversed once retirement begins, making careful modeling essential.

Social Security Timing — Coordinating with Boeing Benefits

While not a Boeing benefit per se, Social Security claiming strategy is deeply intertwined with your Boeing retirement plan. The decision of when to claim — anywhere from age 62 to 70 — has permanent, lifetime consequences. Each year you delay past your full retirement age (FRA), your benefit grows by 8%.

For Boeing employees with strong 401(k)/SSP balances, pension income, or a working spouse, it is often possible to delay claiming until 70 by drawing from other assets first. This 'bridge strategy' can significantly increase your lifetime Social Security income — particularly if you live a long life — and reduce the income taxes you owe on Social Security benefits by managing how much other income you take in the early retirement years.

Breakeven analysis — calculating how long you need to live for delayed claiming to pay off — is a useful starting framework, but it is far from the complete picture. The interaction between Social Security, your Boeing income, Required Minimum Distributions (RMDs) from your 401(k), and SSP, and your tax bracket requires a comprehensive, integrated plan.

Retirement Timing — Why the Date You Choose Matters More Than You Think

At Boeing, the calendar date of your retirement can have significant and lasting financial consequences. Your retirement date affects your pension calculation (if applicable), your healthcare continuity, your final-year 401(k) contributions, your equity vesting schedule, and the taxes you owe in the transition year and for years afterward.

Year-End vs. Mid-Year Retirement

Retiring at year-end versus mid-year creates meaningfully different income pictures for your first retirement year and potentially for years beyond.

If you retire mid-year, you may have six months of W-2 income, followed by pension income, Social Security (if claimed), and portfolio distributions — potentially pushing you into a higher tax bracket.

Retiring late in the year after key equity vesting events may allow you to capture awards that would otherwise be forfeited. The timing of your final year's 401(k) contributions can also impact whether you receive the full employer match for the year.

Voluntary Layoff (VLO) Programs

Boeing periodically offers Voluntary Layoff programs that provide financial incentives for employees to separate voluntarily. These programs can be an attractive path to early retirement, but they require careful evaluation. The severance package, the impact on healthcare coverage and COBRA costs, the effect on unvested equity awards, and the optimal timing for Social Security and pension claims all factors into whether a VLO makes financial sense for your specific situation.

Estate Planning for Boeing Employees

Estate planning is not only for the ultra-wealthy. For Boeing employees with 401(k)/SSP balances, equity awards, life insurance, and home equity, a complete estate plan is both necessary and actionable. Key elements to address include:

• Beneficiary Designations: Your 401(k), SSP, and life insurance accounts pass by beneficiary designation — not through your will. These must be kept up to date, especially after life events such as marriage, divorce, or the birth of a child.

• Wills and Trusts: Establishing a will and, where appropriate, revocable or irrevocable trusts ensures your assets are distributed according to your wishes and potentially reduces estate taxes.

• Power of Attorney and Healthcare Directive: These documents designate who can make financial and medical decisions on your behalf if you become incapacitated.

• Roth Conversion Planning: Converting pre-tax 401(k)/SSP funds to Roth over time can reduce the taxable estate and provide tax-free assets for heirs, who must otherwise take RMDs from inherited IRAs within 10 years under current law.

Boeing Retirement Checklist — Eight Steps to Take Today

Whether you are five years from retirement or five months out, these eight steps will help you move from uncertainty to confidence:

1. Confirm your 401(k) contribution rate and ensure you are capturing the full 10% employer match.

2. Review your SSP enrollment status and evaluate whether enrolling for the upcoming plan year makes sense.

3. Update all beneficiary designations on your 401(k), SSP, and life insurance policies.

4. Review your BESPP participation and plan for diversification of Boeing stock concentration.

5. Schedule a Social Security breakeven analysis to determine your optimal claiming age.

6. For pension-eligible employees, model the lump sum vs. monthly payment decision with a financial advisor.

7. Review and update your estate planning documents, including will, trusts, and healthcare directive.

8. Schedule a comprehensive retirement planning review with a fiduciary advisor who specializes in Boeing benefits.

Common Questions About Boeing Benefits

If I'm already contributing to my Boeing 401(k) but hitting the IRS limit, is the Supplemental Savings Plan worth enrolling in, and what's the downside I should understand before I do?

The SSP lets you keep receiving Boeing's dollar-for-dollar match on base pay above the IRS annual additions limit, which is the primary reason most high earners enroll. The real downside is that SSP balances carry no ERISA protection. Unlike your 401(k), they're a general obligation of Boeing and would be at risk in a bankruptcy. For employees with large accumulated balances, that's a meaningful consideration, not a theoretical one. Also worth knowing: elections don't carry over year to year, so missing the December enrollment window costs you a full year of above-limit matching.

How does my Boeing retirement date affect my taxes, my final-year 401(k) contributions, and any equity awards that haven't vested yet?

Mid-year retirement stacks W-2 income against early pension and portfolio distributions, which frequently pushes your tax rate higher than expected in that first transition year. Retiring after key vesting dates preserves RSU and stock option value that would otherwise be forfeited on separation. Your final-year 401(k) contributions also affect whether you receive the full employer match for that year. The optimal date is often a matter of weeks, with consequences that persist for years.

Should Boeing employees with a pension take the lump sum or the monthly payment, and what does the answer actually depend on?

It depends primarily on three things: interest rates at the time of retirement (higher rates reduce lump sum values, favoring the annuity), your health and life expectancy, and how much guaranteed income you already have from other sources. If your 401(k) and SSP balances are substantial, the annuity's income floor may be redundant and the lump sum's flexibility more valuable. If other assets are limited, the guaranteed lifetime income is harder to replicate. The breakeven calculation is a starting point, but survivor benefit elections and Social Security coordination usually matter just as much.

Ready to Maximize Your Boeing Benefits? We Can Help.

Navigating Boeing's benefits landscape is genuinely complex — but you don't have to do it alone. At Fulcrum Wealth Advisors, we have spent more than 30 years helping Boeing employees in the greater Seattle area understand, optimize, and fully utilize their benefits. We specialize in income planning, pension analysis, non-qualified deferred compensation, Social Security timing, and comprehensive wealth management tailored specifically to Boeing employees.

We are a fiduciary firm, which means we are legally and ethically bound to act solely in your interest — not in the interest of product manufacturers, insurance companies, or any other third party. Our guidance is independent, transparent, and fully aligned with your goals.

The Fulcrum Benefit

Jim Falcone has been offering financial planning services both independently and through official Boeing channels for 31 years. He and his team have extensive experience in planning for Boeing personnel. Unlike most planning firms, FWA offers tax consulting services in-house.

All retirement planning services are complementary to all Boeing personnel. Everyone outside of Boeing pays an hourly rate.

For a complimentary retirement planning consultation, contact Fulcrum Wealth Advisors: