Allstate To Trim Retirement, Insurance Benefits In Cost Cutting
By Becky Yerak, Chicago Tribune |
The changes include a new formula to calculate pensions, as well as ending retiree life insurance benefits for current employees.
Book value generally refers to assets minus liabilities.
"The changes we are making to our employee retirement and life insurance benefits bring us more in line with benefits offered in the marketplace and distribute benefits more equally across all employees,"
"Today, just 30 percent of Fortune 100 companies offer both," she said.
[email protected] -- Twitter: @beckyyerak
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