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Heinz 'De-Risks' Pension Plans
Pittsburgh Post-Gazette Apr. 21, 2014 "The company recently merged [a] plan for salaried employees ... with another one that was set up for nonunion hourly employees, a move the company said simplifies administration. The two plans combined include 5,173 participants, with 521 of those still active. The rest are retired or separated from service. Effective April 30, the combined plan is to be terminated.... Heinz has also merged two other plans, known as Plan B and Plan C, which cover both active and former employees covered under collective bargaining agreements ... That second combined plan is not being terminated, but the company is offering lump sum payments for vested participants and annuities for retirees already receiving benefits." |
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