U.S. Steel to freeze DB plan, move to DC plan

2015-08-21T22:47:02-07:00August 21st, 2015|Categories: Defined Benefit Plans|Tags: |

United States Steel Corp., Pittsburgh, will freeze benefit accruals in its main defined benefit pension plan and two other supplemental plans, effective Dec. 31, said an 8-K filing Friday. Participants will be transitioned to a defined contribution plan. DB assets totaled $6.4 billion as of Dec. 31, 2014, and according to the most recent 5500 filing, there were more than 73,000 participants in the main DB plan. DC assets totaled approximately $2.1 billion as of Dec. 31. A spokeswoman [...]