March 15, 2012 | last updated June 1, 2012 1:15 pm

The Phoenix cuts feed to top execs' retirement kitty

The Phoenix Cos. will no longer foot supplemental contributions to the retirement packages for Chief Executive James D. Wehr and his highest-paid lieutenants, a regulatory filing shows.

The Phoenix announced an 8-K filing with the Securities and Exchange Commission the elimination of voluntary contributions to its nonqualified excess 401(k) plan covering eligible officers.

Under Internal Revenue Service rules, company may contribute to excess plans covering workers earning $245,000 or more in base salary.

The Phoenix will continue to contribute via matching sums to all its employees' 401(k) plans up to the $245,000 threshold, said spokeswoman Alice Ericson.


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