News Column

LITTELFUSE INC /DE FILES (8-K) Disclosing Termination of a Material Definitive Agreement

July 31, 2014

Item 1.02. Termination of a Material Definitive Agreement.

On July 31, 2014, Littelfuse, Inc. (the "Company") terminated the Littelfuse, Inc. Retirement Plan (the "Pension Plan"), a plan that was previously offered to all full-time Company employees but frozen as to new participants and benefit accruals as of April 1, 2009.

Distribution of plan assets resulting from the Pension Plan termination will not be made until the Internal Revenue Service and the Pension Benefit Guaranty Corporation determine that the termination satisfies applicable regulatory requirements. As a result of the termination of the Pension Plan, each participant will become fully vested in his or her benefits under the Pension Plan without regard to age and years of service. Participants will have a choice of receiving a lump sum payment or an annuity in full payment of their benefits accrued under the Pension Plan.

The Board of Directors authorized the Company to make such contributions to the Pension Plan as may be necessary to ensure that the Pension Plan has sufficient assets to settle all plan liabilities.


For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Edgar Glimpses

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters