Ratification Bonus Step-By-Step

November 19, 2024

Machinists, 

Since publishing the November Aero Mechanic, the steps to allocate your Ratification Bonus have been updated. Please evaluate your choices based on the new information. Here is a step-by-step guide and some information you should remember when making this decision. Below, you will also see guidance on the annual 401k contribution limits and how they work.

How to Contribute Your Ratification Bonus to the Boeing 401(k)You can contribute all or part of your $12,000 ratification bonus to your Boeing 401(k) on a pre-tax, Roth, or after-tax basis.

Here’s how:

1. Pre-Tax and Roth Contributions: Log in to your Netbenefits account at www.netbenefits.com. Once logged in, go to the section where you manage your contributions and set the percentage of your ratification bonus you’d like to contribute. You can contribute up to 100% (in whole percentages). If you’d prefer, you can also call the Boeing Financial Benefits Service Center at 866-422-3539 to set this up.

2. After-Tax Contributions: You’ll need to call the Boeing Financial Benefits Service Center directly at 866-422-3539 and let them know what percentage of your bonus you’d like to allocate.

Here are a few things to keep in mind:

• Your bonus contributions will not receive company matching funds and will not count toward Special Company Retirement Contributions.

• Contributions are subject to IRS limits. For 2024, the annual limit for pre-tax and Roth contributions is $23,000 (or $30,500 if you’re 50 or older and eligible for catch-up contributions). After-tax contributions aren’t included in this limit, but the total contributions across all types can’t exceed $69,000 (or $76,500 if you’re 50 or older).

• If you’ve reached the 402(g) limit for 2024, you can still contribute the ratification bonus on an after-tax basis, as after-tax contributions do not count toward the $23,000/$30,500 limit.

For detailed, step-by-step instructions, refer to this guide:https://www.boeing.com/content/dam/boeing/nosearch/benefits/totalrewards/documents/Lump_Sum_Deferral_Elections.pdf

If you have questions or need assistance, contact the Boeing Financial Benefits Service Center at 866-422-3539 for support with elections and clarifications.