Goodyear Dunlop Tyres UK Ltd., Birmingham, England, is considering a new defined contribution scheme to replace a hybrid plan and a DC scheme already in place, according to a news release.
The company is consulting with plan trustees and employee representatives about the change, which would affect about 850 employees in the hybrid plan and 70 in the DC plan. It would not affect existing retirees, and accrued DB benefits would be deferred, according to the release.
Pension Fund Manager Colin Bozier and spokesman James Baily did not respond to requests for additional information by press time.
Goodyear Dunlop UK had combined retirement assets of £843 million ($1.28 billion), as of April 1, 2007, according to Pension Funds and their Advisers 2008.