US - Industrial firm Blount International is set to freeze its defined benefit pension plan effective January 1, 2007 in a bid to save the company up to $23m in the next five years.
As of next year, employees currently participating in the plan would cease accruing benefits, while all retirement benefits earned up to that time would be fully preserved, said James Osterman, cha...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here
