Boeing 2009 Annual Report Download - page 105
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OPB Plan Assets The majority of OPB plan assets are invested in a balanced index fund which is
comprised of approximately 60% equities and 40% debt securities. The index fund is valued using a
market approach based on the quoted market price of an identical instrument (Level 1). The expected
rate of return on these assets does not have a material effect on the net periodic benefit cost.
Cash Flows
Contributions Required pension contributions under the Employee Retirement Income Security Act
(ERISA) as well as rules governing funding of our non-U.S. pension plans, are not expected to be
material in 2010. In 2010 required contributions to our pension plans are not expected to exceed $100.
We expect that if interest rates remain at their current levels, discount rates for ERISA determinations
will likely decline in future years because of retrospective averaging, and as a result, contributions in
future years are expected to increase. We expect to contribute approximately $14 to our OPB plans in
2010.
Estimated Future Benefit Payments The table below reflects the total pension benefits expected to
be paid from the plans or from our assets, including both our share of the benefit cost and the
participants’ share of the cost, which is funded by participant contributions. OPB payments reflect our
portion only.
Pensions
Other
Postretirement
Benefits
2010 $ 2,665 $ 527
2011 2,764 551
2012 2,872 562
2013 3,008 577
2014 3,130 592
2015 – 2019 17,843 3,188
Termination Provisions
Certain of the pension plans provide that, in the event there is a change in control of the Company
which is not approved by the Board of Directors and the plans are terminated within five years
thereafter, the assets in the plan first will be used to provide the level of retirement benefits required by
ERISA, and then any surplus will be used to fund a trust to continue present and future payments
under the postretirement medical and life insurance benefits in our group insurance benefit programs.
We have an agreement with the U.S. government with respect to certain pension plans. Under the
agreement, should we terminate any of the plans under conditions in which the plan’s assets exceed
that plan’s obligations, the U.S. government will be entitled to a fair allocation of any of the plan’s
assets based on plan contributions that were reimbursed under U.S. government contracts.
401(k) Plans
We provide certain defined contribution plans to all eligible employees. The principal plans are the
Company-sponsored 401(k) plans. The expense for these defined contribution plans was $591, $571
and $536 in 2009, 2008 and 2007, respectively.
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