BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.
To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.
To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.
Barnes Group Inc. is offering 1,300 former employees the opportunity to convert their future monthly pension annuity into a cash lump sum.
In an 8-K filing Friday with the U.S. Securities and Exchange Commission, Barnes Group, a Bristol, Connecticut-based industrial and aerospace manufacturer, said it is taking the action “to reduce the size and potential volatility of its U.S. pension plan obligation.”
Barnes said the payments will be made from plan assets, with the plan’s funded status not expected to be adversely affected by the program.
At year-end 2014, Barnes’ U.S. pension plans were more than $50 million underfunded with $380.9 million in assets and $433.1 million in liabilities, according to the company’s 2014 10-K filing.
Newell Rubbermaid Inc., Atlanta, announced in a U.S. Securities and Exchange Commission filing Monday that it will send a lump-sum offer to about 3,300 former employees who have vested in the company's pension plan but who have yet to retire.