Blount International Inc., Portland, Ore., will freeze its $122 million pension plan on Jan. 1, according to a news release. The plan will be closed to new employees, who will be able to participate in the firm's $183 million 401(k) plan. The company will increase its 401(k) contributions to between 3% and 5% of an employee's annual salary, based on years of service. The current contribution was not available. Calvin Jenness, senior vice president and CFO, did not return calls seeking further information.
Blount International Inc., Portland, Ore., will freeze its $122...
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