Spirit/Boeing Merger: A Financial Planning Guide for Aviation Employees

The merger between Spirit AeroSystems and Boeing is coming. When will it be finalized? That's anyone's guess. But here's what I know for certain: I don't want you accidentally blowing up your financial plan during the transition.

The thing about corporate mergers is they create narrow decision-making windows where a small mistake costs you thousands of dollars and months of financial stress. Miss a 401(k) deadline? You're stuck with the wrong investments. Forget to update your beneficiaries? Your family faces unnecessary complications. Choose the wrong health plan during enrollment? You'll overpay in premiums.

You don't need a crystal ball to navigate this successfully. You just need a clear plan.

Why This Matters More Than Market Predictions

Two of our core principles: 1) we prepare, we don't predict and 2) we focus on what we can control.

So I'm not interested in questions like "What will Boeing do with Spirit?" I can't tell you exactly when the merger will close or which divisions will be restructured.

What I can tell you is that preparation beats prediction every single time.

The question we ARE interested in is "How do I protect my family's finances regardless of what happens?"

Imagine you are a pilot planning a cross-country flight. You could spend hours trying to predict exactly when and where you'll hit turbulence. Or you could prepare for turbulence by checking your instruments, reviewing your alternate airports, and making sure your passengers understand the safety procedures.

Which approach gives you more control over the ultimate outcome?

The same principle applies to your finances during this transition.

The List

Before we dive into an action plan, let's talk about the information you need to gather. We created this list specifically for Spirit employees, but it works anytime you're going through a job or career transition.

Here are 17 questions we recommend you answer. You may need to chat with HR, benefits administrators, and/or plan providers. Write down the answers, along with the person's name and the date you asked. Trust me, six months from now when you're trying to remember what Jennifer from benefits told you about HSA rollovers, you'll by thankful you kept notes.

Retirement & Investment Questions

1. Will there be a 401(k) blackout period? Get specific start and end dates.

2. How will my current employer match transfer to Boeing's plan? Don't assume it's dollar-for-dollar.

3. What are my rollover options for existing Spirit 401(k) assets? This affects taxes and investment choices.

4. What happens to company stock in my 401(k)? Will it be liquidated or converted?

5. How are 401(k) loans handled during the merger? Some plans require immediate repayment.

Equity and Payroll Timing

6. RSUs and ESPP: Any changes to vesting schedules or purchase windows?

7. Bonus and PTO payouts: Will these be paid before or after the close?

8. Payroll timing: Are there any gaps that could affect automatic bill payments?

Health Benefits and Insurance

 9. When does new healthcare coverage start? Will deductibles reset mid-year?

10. What's the cost of COBRA if I'm considering separation?

11. HSA: Will balances roll over automatically? Who is the new custodian? What about payroll timing?

12. FSA: Grace period and runout rules? Claims submission deadlines?

13. Life and disability insurance: Any coverage gaps during transition?

Administration and Records

14. Will beneficiaries transfer automatically, or must I re-designate?

15. How will service credit and tenure carry over for PTO and vesting?

16. Who are the official contacts for benefits, retirement, and payroll?

17. How will we be notified of changes (email, portal, mail), and when?

The Plan

Let’s get practical. Below is a sequence of actions in order of priority.

First, build your cash buffer. Set aside 2-3 months of expenses in savings. Mergers can create timing hiccups with payroll, bonuses, and benefit transitions. Cash gives you margin and breathing room.

Second, document and download everything. Download the last 12 months of 401(k) statements and take a screenshot of your current investment allocations. Grab your RSU/ESPP summaries, health plan documents, HSA/FSA details, COBRA cost sheets, PTO balances, and any transition notices you've received. Do NOT rely on notes, documents, or portals only accessible on company computers.

Third, work through the questions we listed above. All 17 of them.

Finally, check your beneficiaries. This is critical. Beneficiary designations don't always transfer correctly during mergers. The new 401(k) provider may have different rules. The consequences of getting this wrong are permanent. Verify beneficiaries on your 401(k), HSA, and life insurance policies to be sure you don't accidentally disinherit someone.

The Mistakes

Treating taxes as an afterthought. Taxes are your largest expense. Every decision during the merger has tax implications. You should at least be aware of them.

Making investment changes during blackouts. You might accidentally lock in terrible timing. Wait for the blackout to end, then make thoughtful adjustments.

Assuming beneficiaries transfer automatically. They may not. Double-check and re-sign paperwork if necessary. Double-check even if you are told they transfer automatically.

Making career changes without mapping the financial impact. If you're considering leaving, model the healthcare costs, payroll timing, and tax implications first. Future-you will thank present-you for thinking this through.

Some Local Perspective

This isn't Wichita's first rodeo with a transition like this. We understand the unique challenges aviation workers face, from stock options tied to aircraft delivery schedules to the reality that your expertise might require relocating for the right opportunity.

Here's what we've learned from helping hundreds of Wichitans navigate career transitions: the people who do best aren't necessarily the ones with the most savings or the best investment returns. They're the ones who approach uncertainty with a process and a plan.

Your career in aviation has taught you to plan for contingencies and follow checklists. Use those same skills in your financial life.

Moving Forward

Remember: preparation beats prediction every time.

Your financial future doesn't depend on predicting what Boeing's executives will decide next quarter. It depends on making purposeful choices with the information you have today and staying prepared for whatever comes next.

Schedule A Call Today!