X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

When Verizon Communications Inc. announced the freezing of its $42 billion defined benefits (DB) retirement plan for active management employees in December 2005, the company used the historic juncture to make changes to its 401(k) plan, as well. Like most major employers focusing on their defined contribution plans after downsizing or eliminating a DB plan, Verizon moved first to increase its corporate contribution to the plan–to a 100% match of the first 6% and a new discretionary match of another 3%, based on company performance, from 100% of the first 4% and 50% of the next 2%.

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.