Lucent Cutting Retiree Benefits Again
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For the second time in a year, telecommunications equipment maker Lucent Technologies Inc. is reducing benefits promised to thousands of its retirees.
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Retirees for a third straight year are paying double-digit increases for healthcare coverage through their former employers, which are shifting a greater share of the cost to new retirees, according to a study released yesterday.
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Protracted negotiations between Lucent Technologies and its unions resulted in a contract agreement yesterday requiring 70,000 retirees and 3,250 active employees for the first time to pay a portion of their health premiums.
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Maybe you're saving too much for retirement. You may also be eating too many vegetables, spending too much time with the kids, exercising too regularly and doing your job too diligently.
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Struggling United Airlines is rushing to again slash wages and to terminate pension plans in a bid to stem cash drain and satisfy lenders.
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When can you roll an old retirement plan into a new one?
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Onge and John Hughes. The Pension Benefit Guaranty Corp., the federal agency that protects retirement plans for more than 44 million workers, said Monday that its deficit more than doubled to $23.
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For today&#39;s workers hoping for medical benefits when they retire, the future is looking increasingly grim. Eight percent of employers interviewed said they had eliminated subsidized health benefits for future
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Alcatel-Lucent  on Friday said it would cut about 12,500 jobs over three years, more than previously announced, as it reported a fourth-quarter net loss and forecast a drop in first-quarter revenues.
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Retirees for a third straight year are paying double-digit increases for healthcare coverage through their former employers, which are shifting a greater
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Charles Schwab Corp. , the largest U.S. discount brokerage, has halved the level of assets that clients need to avoid paying some fees.
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The US Federal Reserve has cut interest rates for the second time in nine days to ward off a recession.
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A new regulation allows employers to establish two classes of retirees, with more comprehensive benefits for those under 65 and more limited benefits â or none at all â for those older.
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Shares of Lucent Technologies Inc.   fell on Tuesday, dragging down other telecommunications  equipment stocks with it a day after the company warned of a  fall in third-quarter earnings on slower wireless network  equipment sales.
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Waters Corp. , which has 1,100 employees in Massachusetts, said it will phase out its traditional pension plan, joining a chorus of corporations nationwide that are dumping pensions in favor of 401(k) retirement accounts.
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Most U.S. employers are planning to  further scale back health benefits offered to retirees, as  companies struggle with the upward march in the cost of medical  care and weigh increased contributions from government&#039;s  Medicare program, a survey found.
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Lucent Technologies Inc., one of the world&#39;s biggest telecommunications equipment makers, is planning additional cuts in retiree health-care benefits, according to a published report Wednesday.