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Philadelphia Archdiocese freezes pension plan
trueArchdiocese of Philadelphia has decided to freeze its $478 million Lay Employees' Retirement Plan, and will start a defined contribution plan.
American Honda closing U.S. defined benefit plan in 2014
trueAmerican Honda Motor Co. Inc. is closing its U.S. defined benefit plan to employees hired on or after Jan. 1, 2014.
Unum contributes $50 million in Q2, plans to freeze U.S. pension plan
trueUnum Group, Chattanooga, Tenn., contributed $50 million to its U.S. defined benefit pension plan in the second quarter as part of the company's efforts to freeze the plan at the end of 2013.
Clewiston, Fla., goes with Securian as bundled provider
trueClewiston, Fla., hired Securian Financial Group as bundled provider of its $7 million defined benefit plan and new 401(a) plan.
Detroit pension executives begin talks on benefit cuts
trueRepresentatives from Detroit's two retirement funds began face-to-face talks with deputies of Kevyn Orr, the city's emergency fiscal manager, over his plan to cut pension benefits, which union leaders say is illegal.
Chrysler to freeze U.S. pension plans for salaried employees
trueChrysler Group LLC will freeze its U.S. defined benefit pension plans for salaried employees effective Dec. 31.
Exelis to freeze salaried employees pension plan in 2016
trueExelis Inc. will freeze its defined benefit pension plan covering salaried employees at the end of 2016 to complete a process it began in 2011, the McLean, Va.-based defense contractor said.
Huntington Memorial Hospital chooses Fidelity as record keeper
trueHuntington Memorial Hospital hired Fidelity Investments as record keeper for its 403(b) plan.
AXA looks to freeze U.K. pension fund
trueAXA Group is proposing to freeze its £3.28 billion ($5.08 billion) U.K. defined benefit pension fund, which has been closed to new members since 2003, according to a company spokeswoman.
Milliman to assess impact of another Florida pension reform bill
trueThe Florida Senate commissioned Milliman to conduct an actuarial study of the financial impact of closing the Florida Retirement System's defined benefit plan to some state employees
Closed pension plans face non-discrimination peril
trueEmployers that thought closing their defined benefit plans to new employees would simplify their pension decisions could be in for a rude surprise as they increasingly risk flunking non-discrimination tests.
Macy's to freeze pension plan at end of year
trueMacy's Inc., Cincinnati, will freeze its defined benefit pension plan as of Dec. 31, according to a recent SEC filing.
Aon Hewitt: Corporate plans eyeing jump through lump-sum window
trueMore than one-third of corporate defined benefit plan sponsors are considering lump-sum payouts this year for retirees and vested former employees, up from 7% last year, according to a new survey by Aon Hewitt.
Goodyear contributes $454 million, announces move to LDI
trueGoodyear Tire & Rubber Co., Akron, Ohio, contributed $454 million to its U.S. pension plans in 2012 and announced plans for a liability-driven investing strategy for its U.S. pension plans.
Pitney Bowes to freeze two DB plans for some employees in March
truePitney Bowes Inc. will freeze two defined benefit pension plans for participants with less than 16 years of service as of March 31, confirmed spokesman Matthew Broder.