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Data & Research August 28, 2013
USEC Freezes DB Plan
USEC Inc. has frozen its defined benefit pension plan covering nonunion employees.
Reported by Kevin McGuinness
Effective August 5, 2013, current participants stopped earning benefits in the plan, according to a news report from Business Insurance. The freeze was part of an organizational structure review by the Bethesda, Maryland-based supplier of enriched uranium fuel for commercial nuclear power plants. Employees affected by the freeze will receive an enhanced 401(k) plan matching contribution.
The news report also said that the company’s pension plans, including the plan most recently frozen, have about 7,100 participants, including 1,500 active employees.