AbbVie closes U.S. pension plan to new hires

AbbVie closes U.S. pension plan to new hires

Source: 
Pensions and Investments
snippet: 

AbbVie Inc., North Chicago, Ill., closed its U.S. pension plan to new hires, effective Jan. 1, according to the company's Feb. 18 10-K filing with the SEC.

The filing did not disclose any changes in its 401(k) plan for employees hired after Jan. 1.

As of Dec. 31, global pension plan assets totaled $10.655 billion, while projected benefit obligations totaled $12.006 billion, for a funding ratio of 88.7%, according to the new 10-K filing. The filing did not break down assets by region.