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Stock Market & Financial Investment News

News Breaks
July 1, 2014
08:36 EDTLMTLockheed Martin to freeze pension plan
Lockheed Martin announced that it will freeze its salaried defined benefit pension plan and transition employees to an enhanced defined contribution retirement plan. The change will take effect in a two-step approach, beginning on January 1, 2016 with the freeze of pay-based benefits and concluding with the freeze of service-based benefits on January 1, 2020. The company expects that the plan will be fully frozen effective January 1, 2020. When the freeze is complete, the majority of Lockheed Martin salaried employees, including approximately 25,000 not in the pension plan, will have transitioned to a retirement plan that offers up to 10 percent of employees' salary annually in company contributions. The company expects that these changes will have no impact on Q2 earnings results. FY14 estimates for pension expense calculated under Financial Accounting Standards will be updated and communicated when the company reports second quarter results on July 22.
News For LMT From The Last 14 Days
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October 15, 2014
10:01 EDTLMTNorthrop Grumman awarded contract from Lockheed
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09:14 EDTLMTLockheed Martin awarded $124.6M THAAD contract
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09:02 EDTLMTLockheed Martin working on new compact fusion reactor
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October 14, 2014
17:17 EDTLMTLockheed Martin awarded $595.48M government contract modification
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07:11 EDTLMTAssociation of the U.S. Army to hold annual meeting
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October 13, 2014
10:58 EDTLMTLockheed Martin receives $90.6M foreign military sale contract from U.S. Army
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October 9, 2014
13:56 EDTLMTObama calls on Congress to lift defense spending cuts, Politico says
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October 8, 2014
08:07 EDTLMTExelis awarded follow-on contract for Lockheed Martin's JASSM
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October 7, 2014
11:01 EDTLMTLockheed Martin signs exclusive agreement with European Aviation
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