All posts by aeroretirees

Aerospace Announces Change to Corporate HQ

On March 21, 2024, Aerospace issued the following press release.

The shift will bring Aerospace’s CEO and corporate functions closer to key customers and stakeholders in the Washington D.C. area. The company will maintain its nationwide employee presence, including its workforce of 2,800 people in El Segundo. Aerospace plans to invest $100 million at its El Segundo campus to advance the state-of-the-art engineering, research, and laboratory capabilities based there. There are no plans for the significant relocation of current employees as a result of this change.

“The space domain has transformed over the last decade, reshaped by rapidly advancing threats, cutting-edge technologies and a fast-growing commercial sector,” said Steve Isakowitz, president and CEO of The Aerospace Corporation.

“Aerospace has taken a leading position navigating through this change as we accelerate our efforts to outpace the threats we face in space. By shifting our headquarters to the Washington, D.C. metro region, we will deepen our ties with key decision makers and stakeholders, and reaffirm our commitment to working side-by-side with our partners as they carry out our nation’s critical missions.”

The space domain has undergone profound change in recent years, including dramatic growth in U.S. government and commercial space investment, the establishment of the U.S. Space Force, the re-creation of U.S. Space Command, and the need for greater technical support to integrate diverse capabilities. This has resulted in a shift of Aerospace’s technical support from traditional functions to emerging needs, as well as a growing nationwide presence to work alongside an increasingly diverse customer base, including the Department of Defense, the Intelligence Community, NASA, and other civil agencies.

Along with the announced shift of corporate functions, Aerospace reinforced the company’s commitment to Southern California with the announcement of a $100 million investment at its main engineering and technology campus in El Segundo. This investment will further Aerospace’s unmatched innovation and technical expertise, while strengthening ties with the region’s leading technical workforce, talent base, and universities. Aerospace’s national customer base will continue to rely heavily on the engineering and research expertise based in El Segundo, and Aerospace is investing in its technical infrastructure to drive greater connectivity and collaboration across all of the company’s locations.

Dr. Wanda Austin, keynote speaker at upcoming awards dinner

The El Camino College Foundation will hold its 2024 Distinguished Alumni and Gratitude Awards Dinner on February 23, 2024, at the DoubleTree by Hilton in Torrance. Dr. Wanda Austin, former CEO of The Aerospace Corporation, will be the keynote speaker.

Other honorees include Sabrina Steele, Executive Director, The Aerospace Corporation; David Dumais, Torrance Fire Chief; Chris Mortensen, ESPN (Retired); and Dr. Jennifer Taylor-Mendoza, President, West Valley College.

Tickets are available here.

Event Details:

  • Friday, February 23, 2024
  • DoubleTree by Hilton, Torrance
  • 21333 Hawthorne Blvd, Torrance, CA 90503
  • Guest check-in will begin at 5:30 p.m., Reception begins at 6 p.m.

2024 Variable Unit Values Posted

Your Yearly AERP Pension Update

Annual pension benefit statements are mailed at the end of December.

Unit Payment Values

20232024
Variable Benefit$10.5745$11.1846
Alternate Variable$1.8887$1.9014
Portfolio A$2.2543$2.2218

Fixed Benefit COLA 2024:

Participants that were originally hired before January 1, 1985: 2.0%
Participants that were originally hired on or after January 1, 1985: 2.0%

Fixed Benefit COLA 2023:

Participants that were originally hired before January 1, 1985: 2.0%
Participants that were originally hired on or after January 1, 1985: 2.0%

More information may be found on the Aerospace Retirees’ website. retirees.aerospace.org

Open Enrollment News

Open Enrollment period for retirees is 12/3 – 12/10.  2024 charts and eGuide will be posted by 12/3.

If you are currently covered by an Aerospace Medicare HMO plan, you must switch to the Aerospace Anthem Medicare Preferred PPO  or register for a new plan with Alight or coverage will be terminated effective 12/31/23. 

Alight Retiree Medical Presentation

Aerospace also notes that our 2024 AERP pension variable unit values will be mailed at the end of December. In the past, the new unit value would have been posted on the webpage before the end of December, but that’s much more uncertain these days.

Your Yearly AERP Pension Update

Annual pension benefit statements are mailed at the end of December.

Unit Payment Values

  2022 2023
Variable Benefit $13.2181 $10.5745
Alternate Variable $1.9506 $1.8887
Portfolio A $2.4627 $2.2543

2023 Pension Plan

Please click here to access the Aerospace Retirees’ Portal, where the company has listed the 2023 variable unit value and the fixed benefit COLA.

Additional pension plan information can be found on the same page under the “Retirement” drop-down menu. If you’re interested in seeing the history of the variable unit values back to 1990, please click here

The “Payment Value” column is the number used to calculate the variable portion of our pension payment (multiply the variable unit value by the number of units you have; that number can be found on your annual Northern Trust statement). 

To preserve history, ARC is capturing the variable unit values back to 1961; we’ll post it here on the ARC website when it is completed.

ARC Virtual Zoom Holiday Party-December 3, 2020

The Aerospace Retirees’ Club Invites you and a guest to join us for our first Virtual Zoom Holiday Party on Thursday, December 3, 2020. This invitation is open to all Aerospace Retirees. You need not be a Club Member to attend.

This Event will reconnect our entire Aerospace Retirement Community. The Party will begin at 10:30 AM for West Coast Retirees, 11:30 AM for Mountain Zone Retirees, 12:30 PM for Central Zone Retirees, 1:30 PM for East Coast Retirees.

Thanks to funding from the Aerospace Employees Association (AEA), we have arranged for professional Zoom support from Ripple FX. This also allows us to make this historic nation­-wide Aerospace Retirees’ Party open to all retirees. Please tell your fellow retirees.

Click HERE for the flyer and information on how to register.