DuPont employees who were hired before Jan. 1, 2007, were eligible to participate in the company's defined-benefit pension plan. Employees hired after that date are ineligible for the pension and must participate in the company's 401(k) plan, a defined-contribution retirement plan, according to NBC News.
The DuPont pension plan offers monthly pension benefits and company subsidies toward the cost of health and life insurance for retirees. Employees who had already retired and current workers at the time of the change were able to retain these benefits, notes NBC News. However, eligible workers earned one-third less pension credit for service performed after 2007, and survivor benefit credits were frozen at current levels.
Employees hired on or after Jan. 1, 2007, are eligible to participate in the retirement investment plan. In 2008, the company began contributing 3 percent of each employee’s pay into the account and matched any voluntary employee contributions up to 6 percent of pay, according to Reliable Plant.
In 2015, retirees under the DuPont pension plan expressed concern that they would lose the health and life insurance subsidies, according to Delaware Online. This part of the benefit is not guaranteed by law. A company spokesman was quoted as saying that the benefit would continue at least through 2016.