Chrysler To Freeze U.S. Salaried Pension Plans By December 31

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Chrysler Group LLC, which is majority owned by Italian automaker Fiat SpA, will freeze its U.S. pension plans for some 8,000 white-collar workers hired before 2004 by the end of the year.

A Chrysler logo is seen on the wheel of a new car at a dealership in Vienna,

Chrysler Group LLC, which is majority owned by Italian automaker Fiat SpA, will freeze its U.S. pension plans for some 8,000 white-collar workers hired before 2004 by the end of the year.

Those workers will be shifted to a defined contribution plan that is offered to salaried workers hired within the last decade, the third-largest U.S. automaker said on Friday.

Chrysler said it decided to make the change partly to comply with U.S. tax regulations.

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