How Boeing employees lost out on $98 million

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If you’re not taking advantage of your company’s 401(k) matching plan, you’re leaving money on the table. That’s exactly what Boeing employees did to the tune of $98 million in 2013.

Daniel McCoy

Reporter- Wichita Business Journal

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If you're not taking advantage of your company's 401(k) matching plan, you're leaving money on the table.

That's exactly what Boeing employees did to the tune of $98 million in 2013.

According to a post on MarketWatch from investment advisor and author Paul Merriman, some 8,400 Boeing employees didn't participate at all in the company's voluntary investment plan at all last year.

Another 48,000 didn't contribute enough to receive the maximum match from the company.

As Merriman crunches the numbers, a Boeing employee with a base pay of $60,000 can earn a 75-percent match on up to $400 a month. The monthly match in that case would amount to a $3,600 raise over the course of the year.

Instead, it was $98 million that went back to shareholders.

And while he uses Boeing as an example, Merriman notes that it is a widespread problem as one-third of respondents to a recent Harris Poll for Wells Fargo said they were not contributing at all to any kind of retirement plan.

Daniel McCoy covers aviation, manufacturing and automotive.