Blogging Employee Benefits

January 26, 2006

Pension Ice Age Hits Harleysville Group

Filed under: Pensions — Fuguerre @ 7:29 am

The announced changes … are part of the company’s continuing efforts to provide comprehensive and competitive compensation and benefits programs that are closely aligned with corporate performance, while adding greater predictability to its cost structure.

Pennsylvania-based insurer Harleysville Group is freezing its defined benefit pension plan effective April 1, 2006. The company will be enhancing its 401(k) plan, providing a company contribution ranging from 5 to 12.5% of salary. [PRNewswire-FirstCall]

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