Agreement Reached Over Unfunded Pensions For Kodak Retirees

- The Eastman Kodak Retiree Association (EKRA) has reached an agreement with the company over its unfunded pension plan.

Under the agreement worked out with a bankruptcy judge, more retirees will benefit and they will get more money. Kodak has agreed to use a more favorable formula for determining payouts. This group of retirees will see 14 percent more in their benefit claims. However, the amount will be determined by the ages of the retirees. Kodak has also agreed to include 400 new retirees who failed to file claims.

EKRA says while they are not getting everything they feel retirees deserve, they are getting more than they would have by taking the company to court.

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