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Implicit Promises and the Timing of Defined‐Benefit Pension Plan Freezes

open access: yesFinancial Management, EarlyView.
ABSTRACT Firms time defined‐benefit (DB) plan freezes after CEO turnovers to protect CEO retirement benefits from cost cuts affecting the wider workforce. We document a significant increase in voluntary CEO turnovers just before the freeze, without notable post‐freeze changes.
Zacharias Petrou, Adamos Vlittis
wiley   +1 more source

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