other material
confidence high
sentiment neutral
materiality 0.40
Aflac freezes supplemental executive retirement plans (SERP & SORP) as of Dec 31, 2023
AFLAC INC
- Freeze effective December 31, 2023 for both SERP and SORP nonqualified pension plans.
- Actively employed participants may continue to accrue service toward early retirement eligibility after freeze.
- SERP participants become eligible for Executive Employer Contributions under the deferred compensation plan.
- SORP freeze applies to retirement benefit accruals only; office use and medical benefits continue.
- Daniel P. Amos, the last active SORP participant, accepted the amendments.