On 01/01/2017, did Honeywell make changes to the pension plans? If so, what were the changes?
Some retirees are stating the pension plan was frozen at 85 points ( whatever that means ).
4 replies (most recent on top)
The last change that I know of was when they said any salary/pay increases will no longer be applied to your pension.
If you are working the only change I heard about is the U.K. Pension so going from defined benefit to defined contribution as of June 30, 2017. A lot of people there are made and some are starting early retirement to get their defined benefit. UK law is much different than USA
If you are USA and already retired and getting your payment then nothing can impact you except a HON bankruptcy
Depending on what division you work the pension rules are different. Future pensions can be changed. Most earned pensions can't be changed. This is one of the areas where there is a lot of BS posted.
None so far. Changes to plans require formal notification. If you were in a union check with them. There have been some discussions
For those on traditional plans current and ex-employees can check HR Direct off www.honeywell.com for official yearly pension information. I expect they will be ending all pensions at the end of this year to boost 2018 earnings