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BMS > SEC Filings for BMS > Form 8-K on 27-Sep-2013All Recent SEC Filings

Show all filings for BEMIS CO INC

Form 8-K for BEMIS CO INC


27-Sep-2013

Change in Directors or Principal Officers, Other Events


Item 5.02 Departure of Directors or Certain Officers;
Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On September 24, 2013, the Compensation Committee (the "Committee") of the Board of Directors of Bemis Company, Inc. (the "Company") approved amendments to the Bemis Supplemental Retirement Plan and the Bemis Supplemental Retirement Plan for Senior Officers (collectively, the "SERP Plans"), both non-qualified defined benefit pension plans. The amendments will freeze all further benefit accruals for all persons entitled to benefits under the SERP Plans as of December 31, 2013. The changes affect all active participants in the SERP Plans, including all management executives who are participants. As a result, final average pay formulas in the SERP Plans will not reflect future compensation increases or additional service after December 31, 2013.



Item 8.01 Other Events

On September 24, 2013, the Committee approved a similar amendment to the Bemis Retirement Plan, a qualified defined benefit pension plan, effective December 31, 2013. The amendment will freeze all further benefit accruals for all persons entitled to benefits under the Bemis Retirement Plan as of December 31, 2013. As a result, final average pay formulas in the Bemis Retirement Plan will not reflect future compensation increases or additional service after December 31, 2013.

In connection with the actions above, the Committee approved an amendment to the Company's 401(k) plan effective January 1, 2014 to increase the Company's matching contributions on deposits of certified earnings. As a result, the matching contributions will be 50% of before-tax deposits up to 4% of certified earnings and 25% of before-tax deposits over 4% (but not over 8%) of certified earnings.

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