By Rob Kozlowski
Source: Pensions & Investments
Machinist workers striking against Boeing Co., may have the leverage to potentially set a precedent in their demands for the company to restore its defined benefit plan, says Teresa Ghilarducci.
Ghilarducci, professor of economics at The New School for Social Research and the director of the Schwartz Center for Economic Policy Analysis and The New School’s Retirement Equity Lab, is a longtime advocate for retirement security. She said that companies like Boeing, where reliability and consistency are essential in high-stakes engineering roles, should like DB pension plans.
“They promote long-term commitment by assuring employees a stable retirement income, reducing turnover and helping retain critical skills,” said Ghilarducci.