Ameripol Synpol terminating pension plans

From Rubber & Plastics News
Beaumont, Texas-Ameripol Synpol Corp. is terminating employee and retiree pension plans that cover nearly 1,390 former workers of the synthetic rubber producer.

The company–or more accurately the corporate remnants of the former SR firm–notified former employees Dec. 30 that it could no longer fund the pension plans and therefore was taking action to terminate them. The employees, however, should receive all or nearly all their expected payments through the federal government’s Pension Benefit Guaranty Corp. benefits protection provisions after a standard…

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