AstraZeneca moves to terminate U.S. pension plan
AstraZeneca Pharmaceuticals LP, Wilmington, Del., has announced plans to terminate its U.S. defined benefit plan.
The company informed participants in its AstraZeneca Defined Benefit Plan on Jan. 25 of its intention to terminate the plan, according to a statement emailed by AstraZeneca’s media relations team.
The termination “involves transferring the responsibility for payments, recordkeeping and asset management to a qualified, carefully selected insurance company with expertise in the long-term management of pension benefits,” according to the statement.
The U.S. defined benefit plan has been frozen since Dec. 31, 2017.
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