Invensys, London, most likely will consolidate its U.S. pension plans, with any changes to be implemented by April 1, said Emily Van Fleet, director employee benefits and human resources systems.
The company was formed earlier this year as a result of the merger between BTR and Siebe. "Right now we are just looking at things. The beauty contest will begin later this year,’’ said Ms. Van Fleet, who also is a member of the investment committee.
BTR’s U.S. defined benefit plan totals $600 million, while Siebe’s defined benefit pension plan has $650 million in assets. BTR’s defined contribution plan has $600 million, while Siebe’s totals $750 million.
