DETROIT (WXYZ) - Chrysler has announced it will freeze pension plans for a majority of salaried US workers.
In a statement released by Chrysler, the company says they began restructuring their retirement plans ten years ago to "help mitigate unpredictable financial costs."
Here is a breakdown for the workers affected December 31 of this year.
-8,000 of the 14,400 salaried workers are affected
-6,000 are white collar non-represented office workers
-2,0000 are salaried "bargaining unit" employees of the UAW
The move will not affect current retirees or hourly blue collar UAW members. The benefits for those hired before January 1, 2004 will remain in place and participants will not lose what they have accrued.