Corporate ActionJun 24, 2026, 01:16 PM
Weyco Group Terminates Pension Plan Effective August 31, 2026
AI Summary
Weyco Group, Inc. announced that its Board of Directors authorized the termination of the Weyco Group, Inc. Pension Plan, effective August 31, 2026. This termination is subject to review by the Pension Benefit Guaranty Corporation. The Company does not anticipate making additional cash contributions to the Plan upon termination, citing its overfunded status as of December 31, 2025. Approximately 400 participants will be impacted, but their earned benefits will not change.
Key Highlights
- Weyco Group's Board authorized the termination of its Pension Plan.
- Termination is effective August 31, 2026, subject to PBGC review.
- The Company does not expect additional cash contributions due to overfunded status as of December 31, 2025.
- Approximately 400 participants are impacted, with no change in earned benefits.
- The Company also approved the termination of the related Pension Trust.
Price Impact
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