Bank of America will switch from pension to 401(k) plan

02/24/2012 | Charlotte Observer (N.C.), The

Starting July 1, Bank of America will freeze its pension plan and instead will direct a portion of workers' salaries, along with a company match, to 401(k) plans. The bank is following the path of many U.S. corporations in halting pension contributions because of their ballooning costs.

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Charlotte Observer (N.C.), The

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