ATT Plans To Contribute $9.5 Billion In Pension Plan
ATT Plans To Contribute $9.5
Billion In Pension Plan – ATT as the largest mobile company in U.S announced
that it seeking government approval in order to contribute a stake $9.5 billion
worth of the wireless business to pays pension benefits for 360,00 retirees
carrier. The Announcement by ATT pension plan comes when many companies have moved in the
opposite direction and will put retirement security at risk through the pension
plans, Communication Workers of America said.
AT the end of last year, ATT pension plan was underfund about $10.2 billion and that is unusual strategy and need approval by Department of Labor. According to a regulatory Friday, ATT hopes the pension plans getting approval by Department of Labor before the end of 2013.
Source: The Hawk Eye
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