Pension freezes

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
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