Resolute Forest Products pension plans underfunded by $1.9 billion:
Resolute Forest Products‘ pension plans are underfunded by $1.9 billion and its employees say they have already given up enough to keep the company in operation.
Resolute Forest Products has not met the minimal solvency levels in its pension plans regulated by Quebec and Ontario’s funding relief regulations. These regulations, adopted in 2011, affect approximately 80% of Resolute Forest Product’s unfunded pension obligations.
As a result of these new regulations, Resolute Forest Products has until March 2013 to adopt corrective measures to attain the target solvency ratio within 5 years.
