Pension freezes

Longboat Key, Fla., looking for DB plan administrator before merging 3 plans

Longboat Key, Fla., is searching for a third-party administrator for its three defined benefit plans, which the town plans to merge into one plan.

October 14, 2014 | 04:14 pm

CONSOL Energy freezes DB plan for certain employees

CONSOL Energy Inc. is freezing its $778 million defined benefit plan for certain employees, according to documents issued to plan participants and obtained by Pensions & Investments.

October 03, 2014 | 04:05 pm
Washington Post freezes DB plan, switches to cash balance

Washington Post freezes DB plan, switches to cash balance

The Washington Post’s parent company is freezing its defined benefit plan and transferring remaining participants to an existing cash balance plan, effective Jan. 1, 2015. The company is also...

September 24, 2014 | 03:15 pm
Newell Rubbermaid proposes lump sums for terminated vested employees

Newell Rubbermaid proposes lump sums for terminated vested employees

Newell Rubbermaid Inc. announced in an SEC filing Tuesday it will offer a lump-sum payment to about 5,700 terminated vested participants in its frozen U.S. defined benefit plan.

September 23, 2014 | 04:01 pm

Magnetek offers lump sum to 35% of DB participants

Magnetek Inc. announced Tuesday in an SEC filing that it is in the midst of offering a lump-sum payout offer to certain participants in its defined benefit plan.

September 23, 2014 | 12:15 pm
Brink's offers lump-sum payment to former employees

Brink's offers lump-sum payment to former employees

The Brink's Co., Richmond, Va., announced on Friday it has offered certain former employees who are vested in its U.S. defined benefit plan the option to accept a lump sum.

August 29, 2014 | 04:16 pm
Kodak moves all employees to single cash balance plan benefit formula

Kodak moves all employees to single cash balance plan benefit formula

Eastman Kodak Co., Rochester, N.Y., is moving all of its U.S. employees to a cash balance plan with a single pension benefit formula, effective Jan. 1.

August 07, 2014 | 01:31 pm

Buck Consultants to freeze pension plan at year-end

Buck Consultants at Xerox, New York, on Wednesday said it will freeze its defined benefit plan at the end of 2014 and enhance its 401(k) plan.

August 06, 2014 | 04:51 pm
Lockheed Martin to freeze pension plan in 2016

Lockheed Martin to freeze pension plan in 2016

Lockheed Martin Corp., Bethesda, Md., will freeze its defined benefit pension plan in early 2016 and start shifting active salaried workers to an enhanced defined contribution program, the company...

July 01, 2014 | 03:56 pm
Boeing to freeze pension fund for non-union employees, executives in 2016

Boeing to freeze pension fund for non-union employees, executives in 2016

Boeing Co. will freeze a pension fund for 68,000 non-union employees and executives, shifting contributions to a defined contribution plan as it works to cut costs.

March 06, 2014 | 03:45 pm

Wilshire: Funded status of frozen corporate pension funds down in January

The funded status of a typical closed and frozen corporate defined benefit pension fund decreased 4.2 percentage points in January to 89.3%, according to a report from Wilshire Associates.

February 24, 2014 | 03:59 pm
Alaska Airlines freezes DB plan for non-union salaried employees

Alaska Airlines freezes DB plan for non-union salaried employees

Alaska Airlines Inc. froze its defined benefit pension plan for non-union salaried employees on Jan. 1.

February 13, 2014 | 03:08 pm
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