PNC joins pension plan changeover
Article Abstract:
PNC Bank Corp. is converting its traditional defined-benefit pension plan for its 26,000 employees in favor of a cash-balance plan effective Jan. 1, 1999. PNC will contribute an amount equal to a certain percentage of an employee's pay to their individual accounts under the new plan. The move was arrived at after indications from regular surveys of the employees showed that they were dissatisfied with the current pension plan. One of the advantages of the cash-value plan is that it can be rolled over to another employer by people who change jobs.
Comment:
Is converting its traditional defined-benefit pension plan for its 26,000 employees in favor of a cash-balance plan
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
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Honest, auto insurance rates are falling
Article Abstract:
Auto insurance companies are enjoying good profits, as fewer insurance claims has considerably decreased operation costs. The auto insurance industry has been enjoying good profits for the last two to three years. The healthy status of the auto insurance industry is accounted to the safety of the roads, the decline in numbers of drunken driving accidents and the low inflation that has kept repair cost in check. With auto insurance companies racking up good profits, they have intensified their marketing, offering low rates to customers.
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
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United's $96 anywhere fare goes fast
Article Abstract:
United Airlines' deeply discounted fares offered on Aug. 5, 1998 only lasted until 2 pm on the day the promotion was launched. United Airlines offered a round-trip ticket from Pittsburgh, PA, to almost every major city in the US serviced by US Airways, the dominant carrier in the Pittsburgh area, for only $96. A reservationist at United Airlines said the toll-free reservation line of the carrier received countless calls regarding the Pittsburgh promotion. A spokesperson for the company declined to comment about the promotion.
Comment:
Deeply discounted fares offered on 8/5/98 lasted until 2 pm on the day the promotion was launched
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
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