If shareholders sign off on the merger between H.G. Heinz Co.and Kraft Foods Group, it would mean the union of more than $13billion in defined benefit and defined contribution retirementassets.
Kraft has the larger retirement plans of the two, byfar.
As of the end of 2014, Kraft, which has 22,000 employees,projected its defined benefit pension obligation to be $8.3billion. Its plans held about $7.2 billion in assets, making for a$1.1 billion unfunded liability, according the company’s Securitiesand Exchange Commission filings.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
