The Lubrizol Corporation Pension Plan (Salary Plan) was merged into the Berkshire Hathaway Consolidated Pension Plan (the “BHCPP”) on December 31, 2018.
The Salary Plan was available to employees hired on or before December 31, 2009.
Effective December 31st, 2021, the Salary Plan provision in the BHCPP was frozen.
The Salary Plan will remain in place, with all vested benefits earned through December 31, 2021, fully available to you when you retire. New benefits will not be earned after that date — which means that pay and service after December 31, 2021 will not count for determining your benefits under this plan. You will not lose any pension benefits earned prior to December 31, 2021, and certain terms and conditions you are familiar with (like the early retirement discount) will stay in effect. A description of the current plan benefit formula(s) may be viewed in the Pension Plan SPD (link to the right).
For more information contact the Berkshire Hathaway Pension Service Center at 1-877-459-2403. The service center is open from 9 am to 6 pm ET, Monday through Friday (excluding major holidays.)
