Sunbeam Corp., Fort Lauderdale, Fla., might not have to make additional contributions to its pension funds or liquidate investments to pay pension benefits to the 6,000 workers who will be laid off. The company last year put virtually all of its $120 million in defined benefit into an immunized bond portfolio, said Edwin Derecho, Sunbeam treasurer.
What's more, the company's salaried employees are covered only by a 401(k) plan; their pension plan was frozen in the late 1980s, said Jim Wilson, vice president of human resources.
