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Tuesday, March 19, 2024
March 19, 2024

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Judge approves $90M settlement for ex-Boeing workers

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WICHITA, Kan. — A federal judge gave final approval to a $90 million settlement in the lawsuit by former Boeing workers over retirement plan benefits after the sale of the company’s Wichita operations.

U.S. District Judge Monti Belot found on Thursday that the settlement agreement is “fair, reasonable, and adequate,” and was entered into in good faith.

The settlement in class-action lawsuit covers former Boeing workers who were participants in the company’s retirement plan in June 2005. The settlement covers Boeing workers who had at least 10 years of vesting service and were between the ages of 49 and 55 at the time they went to work at Spirit AeroSystems or its predecessor Mid-Western Aircraft systems.

Belot preliminarily approved it in May, and this final ruling comes after a fairness hearing last month.

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