Goodyear Changing Benefits For Retail and Salary Workers - Cleveland 19 News Cleveland, OH

Goodyear Changing Benefits For Retail and Salary Workers

AKRON, Ohio (AP) - Changes are planned for the pension and retiree benefits of Goodyear Tire and Rubber Company's U.S.-based retail and salaried employees.

The changes that will effect about 14-thousand active employees and some 17-thousand retirees and will be phased in over a two-year period. But the most significant pension plan changes are in 2009.

The actions are expected to reduce the company's pension obligation by approximately 100 (m) million dollars and its obligation for other post-retirement benefits by about 525 (m) million dollars.

Benefit plan changes effective January first, 2008, include increasing the amounts that current and future salaried retirees contribute toward the cost of their medical benefits.

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