Major pension plan freezes
Cutting retirement plan costs, concerns about the impact of low interest rates on required plan contributions and worries about how longer life spans will boost costs are some of the reasons more and more employers are freezing their plans. The details of pension plan freezes by some of the best-known corporations follows.
With its decision in February to completely freeze its defined benefit pension plan covering salaried employees in the United States, effective Oct. 1, General Motors Co. joins a long list of big companies that have done the same.
