Tredegar Corp., Richmond, Va., will freeze its defined benefit plan to new employees as of Jan. 1 and to all employees as of Dec. 31, 2007, according to a news release. Employees will be able to participate in an enhanced 401(k) plan with a full match up to 6% of base pay for 2007 and 2008 and up to 5% of base pay for 2009 and onward. The company currently matches 50% of employee contributions up to 10% of base pay. Company officials expect the changes to reduce the firm's projected benefit obligation by about $10 million as of Dec. 31. The defined benefit plan had $182 million in assets, and the defined contribution plan had $108 million in assets, according to the Money Market Directory. Andrew Edwards, CFO and treasurer, was not available for comment at press time.