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Pension freeze

UPS to freeze non-union pension plan

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UPS plans to freeze pensions for non-union employees, joining a parade of U.S. corporations that have altered or dumped traditional retiree payout plans.

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Companies That Have Changed Their Defined Benefit Pension Plans

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Below is a list of employers that have announced significant changes to their defined benefit pension plans since December 2005. Changes include plan terminations, plan freezes for new and/or current employees, and changes to the formula by which pension benefits are calculated.

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Retirees brace for hardship as multi-employer pension cuts loom

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Of all the negative financial surprises that can hit in retirement, learning a "guaranteed" pension could be severely cut is among the worst.

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AIG freezes pension

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American International Group Inc. will freeze its defined benefit pension plan, effective January 1, 2016, according to an internal company memo obtained by the Wall Street Journal.

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Got a pension? Act now to save it

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If you were among the 15.7 million private-sector workers with a traditional defined benefit pension plan in the U.S. in 2012, now might be good time to stop counting your blessings.

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Pension plans, once inviolable promises to employees, are getting cut

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The stock market has soared more than 75 percent in the past five years, yet many pension funds, where many middle-class workers should benefit from the market’s rise, continue to struggle, jeopardizing benefits for the workers who were counting on them in retirement.

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Lockheed to freeze pension plan

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Lockheed Martin will freeze its defined benefit pension plan and transition its employees to a defined contribution plan, the Maryland-based aerospace giant said today.

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Heinz 'derisks' pension plan

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Food company wants obligation off of its books

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Company pension plans are healthier, but they're still dying

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This should be good news: At a time when worry about the retirement security of American workers is rising, traditional pension plans finished 2013 in their best shape last year since the financial crisis of 2008. Yet that may only be setting the table for more corporations to stop offering them.

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Companies Prepare To Dump Pension Plans In 2014

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Will your defined benefit pension be the next to be “derisked” and then dumped? Clorox froze its defined benefit pension plan in 2011, and now it’s taking steps to prep the plan in case the fiduciary committee decides to offload it onto an insurer, according to a Clorox executive who spoke at a recent Mercer webcast on pension derisking.

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