Citigroup Pension Plan Freeze
We may have to create a separate section on our site for all the companies freezing their pensions. Citigroup is the latest to make benefit changes that will impact 140,000 employees. They will freeze their pension plan in 2008. Several articles mentioned employee's had requested the change.
Here's the MSN article.
Among the changes unveiled Friday is an improved 401(k) plan that gives most U.S. employees the chance to receive a company contribution of as much as 8 percent of their annual pay, up from the current 3 percent matching contribution. The 8 percent contribution consists of a matching contribution of up to 6 percent and a 2 percent fixed contribution for employees with salaries up to $100,000 a year.