(Bloomberg) -- Like so many companies in America, Boeing has largely neglected the gaping deficit in its employee pension as it doled out lavish rewards to shareholders.
What’s raising eyebrows is how it plans to shore up the retirement plan.
Last month, Boeing made its largest pension contribution in over a decade. But rather than put up cash and lock in the funding, the planemaker transferred $3.5 billion of its own shares, including those it bought back in years past. (The administrator says it expects to sell them over the coming year.)
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