Chalk up two more significant employers who are moving to distance themselves from future DB responsibilities, moves some suggest are based in part on new guidance issued by the IRS.
In separate announcements made last week, both the New York Times Company and Sears Holdings said they would be offering their former employees lump-sum settlements of pension benefits – decisions which will help considerably reduce their pension liabilities and provide a more positive economic outlook for both.
The moves follow recent decisions by automakers Ford and General Motors to offer one-time lump-sum payouts to retirees to reduce years of future pension liability.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
