Richmond, Virginia-based Brinks Inc. is offering about 9,000 former employees a lump-sum payment in lieu of monthly payments from the company's pension plan when they retire.
Eligible participants are former Brinks employees whose relationship with the company ended before June 1, 2014, and who are not scheduled to begin to receive pension benefits until Dec. 1, 2014.
In a Form 8-K filing made to the SEC on Aug 29, Brinks said it plans to pay for the lump-sum payments from the company's Pension Retirement Plan.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
