Blogging Employee Benefits

June 29, 2006

Stride Rite Walks Out

Filed under: Pensions — Fuguerre @ 10:52 pm

Many companies today, including most of the ones that we compete directly with, do not sponsor defined benefit pension plans. Furthermore, we believe that these steps are both prudent and appropriate at a time of uncertainty in the legislative and regulatory direction regarding defined benefit pension plans.

The Stride Rite Corporation has joined the crowd of pension plan sponsors voting with their feet, announcing that it will freeze its defined benefit pension plan effective December 31, in exchange for an increase in the company’s matching contribution to its 401(k) plan.

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