Contact Us
Make My Homepage

Kodak Asks Court to End Retiree Medical Benefits

Eastman Kodak Co. is asking a bankruptcy court judge to allow it to end retiree medical and other benefits at the end of the year as part of its restructuring.

Guy Solimano, Getty Images

The company says Wednesday it’s reached an agreement with the court-appointed committee of retirees to pay a total of almost $660 million into a fund that could be used for future retiree benefits in exchange for eliminating its current $1.2 billion liability for medical, dental, life insurance and survivor income benefits.

It says the benefits cost about $10 million monthly and the change is essential to emerging successfully from Chapter 11 protection. A hearing on the agreement has been scheduled for Oct. 29.

An association that represents about 5,000 Kodak retirees says it’s disappointed by the proposal affecting 56,000 beneficiaries.

 

(Copyright 2012 by The Associated Press.  All Rights Reserved.)

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://nj1015.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on New Jersey 101.5 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here

Register on New Jersey 101.5 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!