Workers will stop accruing benefits in November 2018.
DuPont plans to end contributions to active employees’ pension plans, according to an article from USA Today, a move that will reportedly impact more than 13,000 workers. The action is expected to take place at some point in November 2018 “or the creation date of the first independent company” borne from the proposed Dow merger.
The move will only impact employees in the U.S. and Puerto Rico, according to the article, and will reportedly eliminate $50 million the company pays each year to maintain the plan. Dupont will also eliminate retirement health benefits, including dental and life insurance for all employees under the age of 50 when the pension contribution ends, according to USA Today. 401(k) plans and health savings accounts reportedly will not be affected. Dupont closed the pension plan to new employees in 2007.
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