In December, Verizon Communications announced its move in the increasingly popular, money-saving gambit gaining traction in corporate America today: freezing the defined benefit plan. As part of a ten-year program to save more than $3 billion, the New Yorkbased telecommunications behemoth is restructuring the guaranteed pension plan for 50,500 of its current managers; as of July 1 they will no longer earn new benefits, although they will retain the benefits they’ve already earned.
