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|Motorola to Phase Out Defined Benefit Pension Plan -- New Employees under More Generous 401(k) Plan|
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Mar. 28, 2005
Excerpt: Motorola Inc. is phasing out its $3.5 billion pension plan covering U.S. employees, as the exodus of big employers from the defined benefit plan system continues. Effective Jan. 1, 2005, new employees will be covered only by Motorola's 401(k) plan, which the Schaumburg, Ill.-based high-tech company is sweetening for the new hires. Motorola disclosed the change in its annual report filed with the Securities and Exchange Commission.
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