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Quotes & Info
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| FTI > SEC Filings for FTI > Form 8-K on 7-Oct-2009 | All Recent SEC Filings |
7-Oct-2009
Change in Directors or Principal Officers
Amendment to Qualified and Non-Qualified Defined Benefit Pension Plans
On October 2, 2009, the Board of Directors of FMC Technologies, Inc. (the Company) amended the Company's Qualified and Non-Qualified Defined Benefit Pension Plans (the "U.S. Pension Plans") to freeze participation in the U.S. Pension Plans for all new non-union employees hired on or after January 1, 2010 and current non-union employees with less than 5 years of vesting service as of December 31, 2009. For current non-union employees with less than 5 years of vesting service as of December 31, 2009, benefits accrued under the U.S. Pension Plans and earned as of that date will be frozen based on credited service and pay as of December 31, 2009.
Amendment to Qualified and Non-Qualified Savings and Investment Plans
The Board of Directors also approved amendments to the Company's U.S. Qualified and Non-Qualified Savings and Investment Plans (the "Amended Plans"). Under the Amended Plans, the Company will make a non-elective contribution equal to 4 percent of an employee's eligible earnings every pay period. All new non-union employees hired on or after January 1, 2010 and current non-union employees with less than 5 years of vesting service as of December 31, 2009 will participate in the Amended Plans. The vesting schedule for the 4 percent non-elective contribution under the Amended Plans is 3 years of continuous service with the Company.
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