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Motorola to Add $100 Million to Pension Plan

January 5, 2011
Related Topics: Finance/Taxes, Benefit Design and Communication, Retirement/Pensions, Latest News
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Motorola Solutions Inc. will contribute $100 million above any required contribution to its pension plan during the next five years under an agreement with the Pension Benefit Guaranty Corp.

Schaumburg, Illinois-based Motorola Solutions, formerly known as Motorola Inc., reached the agreement with the Pension Benefit Guaranty Corp. before the spinoff of its Motorola Mobility business that was completed Jan. 4, according to a Motorola statement.

A PBGC spokesman said Motorola Solutions will continue to sponsor the plan, which has been closed to new employees since Jan. 1, 2005.    

Filed by Doug Halonen of Pensions & Investments, a sister publication of Workforce Management. To comment, e-mail editors@workforce.com.

 

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