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Disney (Walt Disney Corporation) drops pensions for salaried new hires
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Sunday, 25 Jun 2017

Disney (Walt Disney Corporation) drops pensions for salaried new hires

by Sara K. Clarke (Orlando [Florida] Sentinel, May 12, 2011).

Walt Disney Co. is dropping pensions as a benefit for new salaried employees next

year and revising the plans for its existing salaried workers, moves the company says

will save it hundreds of millions of dollars during the next five years.

The pension revisions, which involve merging separate plans for Disney employees

and those working for the ABC television network, will affect about 9,500 of the 62,000

people who work in Florida for Walt Disney World, Disney Cruise Line and Disney Vacation Club.

"New hires as of Jan. 1, 2012, will participate in a brand-new defined-contribution retirement plan,

"Disney World spokesman Mike Griffin said. Meanwhile, "Disney will align its two existing salaried

pension plans for current eligible employees," he said.

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