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Business

>> THE NEW YORK TIMES Latest News

APR 30, 2013 - Time

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Kodak to Pay Retired Workers in Film (And Other Adventures in Creative Pension Funding)

Eastman Kodak has reached a deal to hand over its film business to retirees in lieu of paying monthly benefits, making it the latest strapped corporation to resort to non-cash pension contributions. Kodak, restructuring under bankruptcy protection, will turn over its personalized imaging and document imaging businesses to the U.K. Kodak Pension Plan, according to a report in the Wall Street Journal. This will wipe out a $2.8 billion pension obligation. If all goes well, the pension will sell the businesses and use the proceeds to fund retirement benefits. But no one knows what the businesses ... Read More

Tags: Kodak to Pay Retired Workers in Film (And Other Adventures in Creative Pension Funding),  The New York Times Latest News