Pension freezes

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
Goodyear contributes $454 million, announces move to LDI

Goodyear contributes $454 million, announces move to LDI

Goodyear Tire & Rubber Co., Akron, Ohio, contributed $454 million to its U.S. pension plans in 2012 and announced plans for a liability-driven investing strategy for its U.S. pension plans.

February 12, 2013 | 03:11 pm

Pitney Bowes to freeze two DB plans for some employees in March

Pitney Bowes Inc. will freeze two defined benefit pension plans for participants with less than 16 years of service as of March 31, confirmed spokesman Matthew Broder.

February 01, 2013 | 07:14 pm

Anixter International to freeze pension plan

Anixter International Inc. will freeze its U.S. defined benefit pension plan at the end of 2013 in an effort to reduce pension costs and volatility.

January 30, 2013 | 01:35 pm

NAPF survey: Corporate U.K. DB plans closing at faster pace

U.K. corporate defined benefit pension plans are closing at the fastest pace since 2005, with only 13% of DB funds open to new employees in 2012 compared to 19% the previous year, according to an...

January 27, 2013 | 07:00 pm

Sears pension plan cuts stake in retailer’s debt to fund lump-sum payouts

Sears Holdings Corp.’s employee pension fund Wednesday sold a portion of the $250 million in company debt that it bought more than two years ago to help fund lump-sum payments to retirees.

January 23, 2013 | 03:59 pm

Pensacola police pension fund to be closed to new hires

Pensacola (Fla.) Police Officers' Retirement Fund will be closed to new hires effective Jan. 1.

December 28, 2012 | 12:06 pm
Senior American Airlines pilots seek to keep lump-sum payments

Senior American Airlines pilots seek to keep lump-sum payments

A group of senior pilots at American Airlines on Monday asked the judge overseeing parent AMR Corp's Chapter 11 bankruptcy case to withhold approval of a new labor agreement that would eliminate the...

December 17, 2012 | 05:36 pm
AMR seeks court approval to ground lump-sum benefit option

AMR seeks court approval to ground lump-sum benefit option

American Airlines Inc. parent AMR Corp. has asked a federal bankruptcy court in New York for permission to allow the airline to amend its frozen pilots' pension plan so that retiring pilots cannot...

November 29, 2012 | 10:05 am
Verizon to close DB plan to new union employees along with buyout

Verizon to close DB plan to new union employees along with buyout

Verizon Communications Inc., New York, will close its defined benefit plans for union employees to new hires and place them exclusively in the company's 401(k) plan, as part of tentative contracts...

October 18, 2012 | 04:26 pm
Hostess Brands proposes 2-year contribution holiday for DB, multiemployer plans

Hostess Brands proposes 2-year contribution holiday for DB, multiemployer plans

Hostess Brands Inc. proposed withholding contributions to its company defined benefit plan and multiemployer pension plans for two years as part of its Chapter 11 bankruptcy reorganization plan.

October 11, 2012 | 03:40 pm
Yum! Brands serves up lump sums to some former employees

Yum! Brands serves up lump sums to some former employees

Yum! Brands Inc. on Tuesday announced it will offer a lump-sum payout to “certain former employees” participating in its U.S. defined benefit pension plans, according to an 8-K filing...

October 09, 2012 | 05:48 pm

Equifax to offer lump sum or annuity to vested former employees

Equifax Inc. announced on Monday it will offer a lump-sum payout or reduced monthly annuity to about 3,500 former employees vested in its U.S. defined benefit pension plan.

October 01, 2012 | 05:23 pm

It's up, it's good! NFL-referee deal includes DB plan freeze

NFL Game Officials' Pension Plan, New York, will be frozen after the 2016 National Football League season as part of a labor agreement reached Wednesday between the league and the NFL Referees...

September 27, 2012 | 11:27 am

Libbey to freeze U.S. salaried employees' cash balance plan

Libbey Inc. will freeze its cash balance pension plan for U.S. salaried employees, effective Jan. 1, as part of a series of benefits changes to address rising pension costs.

September 18, 2012 | 05:39 pm