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Goodyear Freezes U.S. Hourly Pension Plans, Vulcanizes DB Plans with $1.15 Billion
Pensions & Investments 
Feb. 13, 2014 "Goodyear Tire & Rubber Co. [of] Akron, Ohio, ... has contributed $1.15 billion to its U.S. defined benefit pension plans since the beginning of 2014 ... The contribution, which fully funds the company's U.S. hourly pension plans ... allows the company to freeze that plan to future benefit accruals effective April 30.... Now that the U.S. pension plans are frozen and fully funded, spokesman Keith Price said the company is considering making a lump-sum offer to vested participants who have yet to retire. He added Goodyear is not considering a bulk annuity purchase similar to the high-profile buyouts by General Motors and Verizon." MORE >> |
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