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Ford Motor Co. Message Board

  • axdgigo axdgigo Dec 17, 2008 6:58 PM Flag

    Motorola Freezes Pension Plan; More To Come

    I guess the workers broke the back of Motorola too?

    http://online.wsj.com/article/SB122954457730115241.html?mod=googlenews_wsj

    Motorola Inc. likely won't be the only major company to freeze its pension in 2009.

    Other struggling companies are expected to cut plans, and many businesses already are suspending 401(k) matches to slash expenses. However, even relatively healthy companies may be forced to make changes if Congress doesn't modify pension funding requirements, according to pension experts.

    Congress last week made some changes to the Pension Protection Act of 2006, but the dramatic decline in stock values in recent months has sent pension assets plunging. As a result, even profitable companies are scrambling to set aside the cash they need to meet the act's more rigorous funding requirements.

    Businesses and pension experts have asked Congress when it reconvenes in January to make more modifications and delay some of the legislation's requirements.

 
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14.91-0.12(-0.80%)Jan 23 4:00 PMEST

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