It will freeze its pension plan for current employees who do not meet certain grandfathering criteria and will provide them with an enhance 401(k)savings plan.
About 9,400 of the company’s more than 27,000 employees will be affected.
Ryder says the changes are in line with marketplace trends, in which retirement savings through a 401(k)plan is increasingly becoming the standard retirement offering by employers, including its competitors and customers.
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