U.S. Steel pension plan move a milestone

2015-08-26T16:39:32-07:00August 26th, 2015|Categories: Defined Benefit Plans|Tags: , |

United States Steel Corp.’s move last week to freeze its defined benefit plans for salaried and non-union employees marks a turning point for U.S. retirement plans. The U.S. Steel plan was one of the first pension plans in the United States. U.S. Steel announced in an 8-K filing Aug. 21 that it would freeze benefit accruals in its main defined benefit plan and two other supplemental plans for those employees, effective Dec. 31. Participants will be transitioned to a defined contribution [...]