If you’re thinking of retiring, SPEEA wants you to be aware that the Boeing Company Employee Retirement Plan (BCERP) lump sum benefits will likely be reducing in 2019.
On September 26, the Federal Open Market Committee increased their benchmark interest rate for the eighth time since 2015. The committee is projecting one more increase for 2018 and three additional increases in 2019.
While these increase rates do not directly translate in higher IRC 417(e) segment rates, they do indicate that it is still likely that the segment rates will continue to increase in 2018 and 2019. These changes will decrease the BCERP lump sum benefit.
If you are nearing retirement and/or interested in learning how the lump sum commencement option is calculated and may change in the future, click the link below to watch the webinar presentation by SPEEA Senior Director of Compensation and Retirement Matt Kempf.