Pension freezes

Goodyear freezes U.S. hourly pension plans, vulcanizes DB plans with $1.15 billion

Goodyear freezes U.S. hourly pension plans, vulcanizes DB plans with $1.15 billion

Goodyear Tire & Rubber Co. announced on Thursday it has contributed $1.15 billion to its U.S. defined benefit pension plans since the beginning of 2014 and will freeze its U.S. hourly pension plans...

February 13, 2014 | 03:32 pm
IRS issues testing relief for closed DB plans

IRS issues testing relief for closed DB plans

Corporations that sponsor defined benefit plans closed to new employees got some good news Friday from the Internal Revenue Service, which granted relief from non-discrimination testing rules through ...

December 13, 2013 | 03:57 pm
 Philadelphia Archdiocese freezes pension plan

Philadelphia Archdiocese freezes pension plan

Archdiocese of Philadelphia has decided to freeze its $478 million Lay Employees' Retirement Plan, and will start a defined contribution plan.

November 14, 2013 | 11:04 am
American Honda closing U.S. defined benefit plan in 2014

American Honda closing U.S. defined benefit plan in 2014

American Honda Motor Co. Inc. is closing its U.S. defined benefit plan to employees hired on or after Jan. 1, 2014.

September 13, 2013 | 12:01 pm
Unum contributes $50 million in Q2, plans to freeze U.S. pension plan

Unum contributes $50 million in Q2, plans to freeze U.S. pension plan

Unum Group, Chattanooga, Tenn., contributed $50 million to its U.S. defined benefit pension plan in the second quarter as part of the company's efforts to freeze the plan at the end of 2013.

August 06, 2013 | 02:45 pm

Clewiston, Fla., goes with Securian as bundled provider

Clewiston, Fla., hired Securian Financial Group as bundled provider of its $7 million defined benefit plan and new 401(a) plan.

July 24, 2013 | 12:31 pm
Detroit pension executives begin talks on benefit cuts

Detroit pension executives begin talks on benefit cuts

Representatives from Detroit's two retirement funds began face-to-face talks with deputies of Kevyn Orr, the city's emergency fiscal manager, over his plan to cut pension benefits, which union...

July 11, 2013 | 03:57 pm
Chrysler to freeze U.S. pension plans for salaried employees

Chrysler to freeze U.S. pension plans for salaried employees

Chrysler Group LLC will freeze its U.S. defined benefit pension plans for salaried employees effective Dec. 31.

June 14, 2013 | 03:35 pm

Exelis to freeze salaried employees pension plan in 2016

Exelis Inc. will freeze its defined benefit pension plan covering salaried employees at the end of 2016 to complete a process it began in 2011, the McLean, Va.-based defense contractor said.

June 07, 2013 | 02:09 pm

Huntington Memorial Hospital chooses Fidelity as record keeper

Huntington Memorial Hospital hired Fidelity Investments as record keeper for its 403(b) plan.

May 15, 2013 | 03:36 pm

AXA looks to freeze U.K. pension fund

AXA Group is proposing to freeze its £3.28 billion ($5.08 billion) U.K. defined benefit pension fund, which has been closed to new members since 2003, according to a company spokeswoman.

April 30, 2013 | 11:08 am
Milliman to assess impact of another Florida pension reform bill

Milliman to assess impact of another Florida pension reform bill

The Florida Senate commissioned Milliman to conduct an actuarial study of the financial impact of closing the Florida Retirement System's defined benefit plan to some state employees

April 01, 2013 | 02:09 pm
Closed pension plans face non-discrimination peril

Closed pension plans face non-discrimination peril

Employers that thought closing their defined benefit plans to new employees would simplify their pension decisions could be in for a rude surprise as they increasingly risk flunking non-...

February 18, 2013
Macy's to freeze pension plan at end of year

Macy's to freeze pension plan at end of year

Macy's Inc., Cincinnati, will freeze its defined benefit pension plan as of Dec. 31, according to a recent SEC filing.

February 15, 2013 | 03:23 pm

Aon Hewitt: Corporate plans eyeing jump through lump-sum window

More than one-third of corporate defined benefit plan sponsors are considering lump-sum payouts this year for retirees and vested former employees, up from 7% last year, according to a new survey by...

February 13, 2013 | 03:14 pm