Dallas (WBAP/KLIF) – Current and former top execs of Dallas-based Neiman Marcus will not get their big dollar retirement benefits.
Te luxury retailer nixed its supplemental retirement plans as a result of its Chapter 11 bankruptcy filing; the plans were only offered to top tier officials. retiree medical benefits have also been eliminated.
The decision does not affect a qualified pension plan that covers over 10-thousand current and retired employees, or its 401k program, according to the Dallas Morning News.
About 50 current top executives qualified for the extra benefits.
(Copyright 2020 WBAP/KLIF 24/7 News. This report contains material from the Dallas Morning News.)
