USA Terminates All of its Defined Benefit Plans

United Space Alliance Memo: CEO/COO Message: Retirement Plan Changes

"As you know, United Space Alliance has been undergoing a significant transformation in order for the company to remain competitive and successful following the completion of Shuttle Program operations and the closeout of the Space Program Operations Contract (SPOC). Retirement plans like USA's defined benefits plans are a significant cost driver, and many of USA's competitors have eliminated such plans to drive their costs down. After fully considering all options available, USA is announcing its intention to terminate all of its defined benefit plans, effective as of the close of this plan year. You will receive official notices via US Mail to your home. This memo is an explanatory "heads up" of what this means to you."

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This page contains a single entry by Keith Cowing published on October 21, 2010 2:19 PM.

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