Successful strategies to reduce underfunding
Article Abstract:
Several companies have successfully reversed underfunding of their pension plans through innovative approaches. General Motors Corp. used company stock contributions to cut underfunding, which had reached $22.3 billion in 1993 while Chrysler Corp. relied on large influx of cash and its tested investment philosophy to improve its position. Other companies that have successfully erased underfunding are Rockwell International Corp. and Ceridian Corp.
Publication Name: Pension Management
Subject: Human resources and labor relations
ISSN: 1078-9766
Year: 1996
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Protecting retirees
Article Abstract:
Albany International Corp. has developed a new scheme that allows retirees to allocate portions of their 401(k) account balances to purchase additional benefits from the company's defined benefit plans. Called PensionPurchase, the scheme was developed with the assistance of William M. Mercer Inc. and provides retirees with additional monthly incomes and estate planning security. A discussion of the key features of PensionPurchase is presented.
Publication Name: Pension Management
Subject: Human resources and labor relations
ISSN: 1078-9766
Year: 1995
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