Sunday, June 16, 2013

Chrysler completely freezes pension plan for salaried employees

Chrysler completely freezes pension plan for salaried employees | Crain's Detroit Business:
"Chrysler described the pension freeze as “consistent with industry trends.”
Last year, for example, General Motors Co. announced a complete freeze of pension plans offered to salaried employees.
Chrysler’s pension plans are significantly underfunded. 
That includes those covering hourly employees, who are not affected by the freeze. 
At the end of 2012, the automaker’s pension plans had $26 billion in assets and $34.8 billion in liabilities, according to the company’s 2012 Form 10-K report."

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