Boeing (BA) Ending Pension Plans For Non-Union Employees

NEW YORK (TheStreet) -- Boeing (BA) announced Thursday that it will end pension plans for 68,000 non-union employees in 2016.

Shares of Boeing were gaining 0.1% to $128.89.

The 68,000 employees, including top executives, will transition from pensions to 401(k)-style retirement plans starting January 1, 2016. The aircraft maker said it expects a $110 million non-cash charge in the first quarter as a result of the change.

The company previously said it expects $220 million charges as a result of labor agreements with union machinists.

Retirees who are already receiving pension benefits are not affected by the change.

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TheStreet Ratings team rates BOEING CO as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate BOEING CO (BA) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, revenue growth, largely solid financial position with reasonable debt levels by most measures, compelling growth in net income and solid stock price performance. We feel these strengths outweigh the fact that the company shows weak operating cash flow."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

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