Defined Benefit Pension Plans
. According to Julie Albrecht, Sonoco's Vice President and CFO, the voluntary contributions are projected to increase the funded status of the Company's U.S.
assets for defined benefit pension plans
(table 7.21, line 30) and
Alcoa Corporation (NYSE:AA) declared on Wednesday that it signed group annuity contracts to transfer an estimated USD555m in obligations and related assets, of defined benefit pension plans
Alcoa said it will try to reduce its exposure to retiree benefits obligations by freezing the defined benefit pension plans
it now offers for salaried employees in the United States and Canada.
What types of defined benefit pension plans
are not subject to Title IV of ERISA and, therefore, would be exempt from providing the annual funding notice?
Defined benefit pension plans
- which promise a worker a certain amount of money in retirement - have been going the way of the dinosaur when it comes to businesses, replaced with some version of a defined contribution plan, in which an employer and/or employee contribute a specific amount each year to the employee's pension plan, such as a 401k.
Business groups appear satisfied with a proposed new rule from the Treasury Department that gives companies additional leeway to fund "closed" defined benefit pension plans
, or plans that aren't open to new employees.
The team is also responsible for Manulife's internal defined benefit pension plans
in both the US and Canada.
Contributions to multiemployer defined benefit pension plans
have been a mainstay, legacy feature of union negotiations in many industries.
The new contract gives Goodyear the ability to freeze its defined benefit pension plans
and replace them with a defined contribution plan at any time during the four-year contract once full funding is achieved.
Chrysler Group, a United States-based automaker, is planning to freeze its salaried employee defined benefit pension plans
, effective December 31, 2014.