EKRA Ltd., an organization of Eastman Kodak Co. retirees, on Thursday announced that it has reached an agreement with Kodak on a motion pertaining to the Kodak Excess Retirement Income Plan and the Kodak Unfunded Retirement Income Plan.
Kodak halted the two pension plans for retirees in January 2012 when the company filed for bankruptcy. The move ended payments for more than 1,000 retirees.
Under the motion approved this week in court, Kodak will recalculate all claims using a more favorable mortality table and a discount rate, resulting in an average increase of some 14 percent.