Pensions

Arconic’s Pension Freeze and Pension Advice for Its Employees

In 2018 Arconic is freezing defined benefit pension plans for nearly 7,900 of its employees. As a replacement to this, Arconic will increase contributions to employee 401(k) plans for those affected.

Pensions

L.L. Bean to Cut Costs by Pension Plan Terminations and Offer Voluntary Early Retirement

L.L. Bean is increasing their contributions to employees’ 401(k) plans as they terminate pension plans. The company is also offering early retirement incentives as a way to reduce its workforce and alleviate some of their expenses.

Pensions

Heinz-Kraft Pension De-Risking and Pension Advice for Its Employees

Heinz-Kraft is offering its workers plan consolidations, lump-sum offers to current non-retirees, or an annuity purchase in order to de-risk their pension liability. There are other alternatives to these options, however, that better suit those looking to secure guaranteed retirement income.

Pensions

DuPont’s Pension Buyout and Pension Advice for Workers

The merger of Dow and DuPont created $51 billion in pension obligations, resulting in the company’s decision to offer employees a lump-sum pension buyout. This Pension Buyout, however, has several implications for those who accept it.

Pensions

UPS Pension Plan Changes May Take Time, but UPS Workers Have a Call to Action

UPS announced that it is freezing non-union employee pensions, contributing only a small percentage to their workers’ 401(k) plans. This, however, leaves more than 70,000 workers to independently decide how they should continue saving for retirement.