other material
confidence high
sentiment neutral
materiality 0.25
International Seaways terminates retiree health plan; distributions within 12–24 months
International Seaways, Inc.
- Board terminated the Retiree Health and Welfare Plan on Dec 26, 2024.
- All accrued benefits will be distributed within 12–24 months under Section 409A.
- Plan covered former OSG employees hired before Jan 1, 2005, with age 55 and 10 years service.
- No further company contributions after termination; remaining balances forfeited.
- Death benefit of $10,000 per eligible retiree will be paid after death.