BIG TOP SHAKEUP: Tears of a clown; Ringling Bros. and Barnum & Bailey terminating its defined benefit plan.(Brief Article)

Pensions & Investments, November, 2000 by Anand, Vineeta

VIENNA, Va. -- The clowns might need cheering up. Feld Entertainment Inc., the parent company of Ringling Bros. and Barnum & Bailey, has given notice to its employees that it plans to terminate the defined benefit pension plan for The Greatest Show On Earth. The company has informed the Pension Benefit Guaranty Corp., the federal pension insurance agency, of its plans to shut down the Ringling Bros.-Barnum & Bailey Combined Shows Inc.

and Affiliates Pension Plan. That plan has 417 participants and $5.09 million in assets. Feld executives expect more than 75% of employees will be covered by the company's existing 401(k) plan, which it set up in 1997. The 401(k), meanwhile, is getting a boost that includes an increased company match and more investment...

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