Pension freezes

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  1. Longboat Key, Fla. looking for DB plan administrator before merging 3 plans

    trueLongboat Key, Fla., is searching for a third-party administrator for its three defined benefit plans, which the town plans to merge into one plan.

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  1. Washington Post freezes DB plan, switches to cash balance

    trueThe Washington Post’s parent company is freezing its defined benefit plan and transferring remaining participants to an existing cash balance plan, effective Jan. 1, 2015. The company is also offering a lump-sum option for all defined benefit participants.

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  2. Newell Rubbermaid proposes lump sums for terminated vested employees

    trueNewell Rubbermaid Inc. announced in an SEC filing Tuesday it will offer a lump-sum payment to about 5,700 terminated vested participants in its frozen U.S. defined benefit plan.

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  3. Magnetek offers lump sum to 35% of DB participants

    trueMagnetek Inc. announced Tuesday in an SEC filing that it is in the midst of offering a lump-sum payout offer to certain participants in its defined benefit plan.

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  4. Brink's offers lump-sum payment to former employees

    trueThe Brink's Co., Richmond, Va., announced on Friday it has offered certain former employees who are vested in its U.S. defined benefit plan the option to accept a lump sum.

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  5. Kodak moves all employees to single cash balance plan benefit formula

    trueEastman Kodak Co., Rochester, N.Y., is moving all of its U.S. employees to a cash balance plan with a single pension benefit formula, effective Jan. 1.

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  6. Buck Consultants to freeze pension plan at year-end

    trueBuck Consultants at Xerox, New York, on Wednesday said it will freeze its defined benefit plan at the end of 2014 and enhance its 401(k) plan.

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  7. Lockheed Martin to freeze pension plan in 2016

    trueLockheed Martin Corp., Bethesda, Md., will freeze its defined benefit pension plan in early 2016 and start shifting active salaried workers to an enhanced defined contribution program, the company announced Tuesday.

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  8. Boeing to freeze pension fund for non-union employees, executives in 2016

    trueBoeing Co. will freeze a pension fund for 68,000 non-union employees and executives, shifting contributions to a defined contribution plan as it works to cut costs.

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  9. Wilshire: Funded status of frozen corporate pension funds down in January

    trueThe funded status of a typical closed and frozen corporate defined benefit pension fund decreased 4.2 percentage points in January to 89.3%, according to a report from Wilshire Associates.

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  10. Goodyear freezes U.S. hourly pension plans, vulcanizes DB plans with $1.15 billion

    trueGoodyear Tire & Rubber Co. announced on Thursday it has contributed $1.15 billion to its U.S. defined benefit pension plans since the beginning of 2014 and will freeze its U.S. hourly pension plans on April 30.

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  11. Alaska Airlines freezes DB plan for non-union salaried employees

    trueAlaska Airlines Inc. froze its defined benefit pension plan for non-union salaried employees on Jan. 1.

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  12. IRS issues testing relief for closed DB plans

    trueCorporations that sponsor defined benefit plans closed to new employees got some good news Friday from the Internal Revenue Service, which granted relief from non-discrimination testing rules through 2015.

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  13. 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.

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