Get help evaluating your options

On April 20, Boeing announced a Voluntary Layoff (VLO) program in response to recent economic events. For employees who qualify, this benefit may be an opportunity to meet the goal of retirement sooner than expected.

For eligible employees, Boeing is offering a lump-sum payment of one week’s pay for every year of service completed, up to a maximum of 26 years in most cases.

Employees who accept the VLO offer may also receive a few months of subsidized health insurance benefits and access to other benefits.

While employees who accept the VLO may apply in the future for open employee or contractor positions, accepting the VLO forfeits any first consideration rehire or recall rights. This program is used as a permanent separation from Boeing, causing the employee to lose those rehire benefits.

Boeing has announced the following important dates for this VLO offer:

April 27, 2020 – VLO Registration Opens

May 4, 2020 – VLO Registration Closes

May 14, 2020 – Formal Notification Sent to Employees

June 5, 2020 – Last Day on Payroll

This is a major decision to make in a short amount of time, and there are many factors to consider. What retirement lifestyle are you dreaming of? Are the assets you have saved enough? Will you have other income sources like Social Security or pension benefits? To help weigh your options, we’re offering a complimentary financial analysis for Boeing employees considering the VLO program. Schedule a meeting above to take advantage of this offer and make sure you’re on the right track.

We’ve been helping Boeing employees navigate decisions like this for over 30 years. If you’re feeling overwhelmed by assessing the pros and cons of this decision, schedule your complimentary personalized analysis. We can help you determine whether retiring now would provide you with a sustainable retirement that meets your lifestyle needs.