Categories: OLD Media Moves

Thomson Reuters to offer lump sums to vested ex-employees

Thomson Reuters will offer a choice of lump-sum payments or early annuity payments to vested employees who no longer work at the company, according to information obtained by Pensions & Investments.

Kevin Olsen writes, “Eligible participants who do not elect either option will receive annuity payments under the regular pension structure. Immediate annuities will result in reduced payments to account for the longer period of time of receiving expected benefits.

“Participants that are vested, no longer work at Thomson Reuters as of June 30 and have not started receiving any pension benefits from the company will have from Oct. 3 to Nov. 1 to decide.

“The Thomson Reuters Group Pension Plan had $1.5 billion in assets as of Dec. 31, 2010, according to its most recent Form 5500 filing.

“Diane Gasser, senior vice president, rewards, did not return a telephone call by press time. Andrew Perrin, vice president treasury and global head of pensions and investments, could not be reached for comment. David Girardin, corporate spokesman, could not provide further information by press time.”

Read more here.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.

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