You can now read 10 articles in a month for free on Read as much as you want anywhere and anytime for just 99¢.

The Boston Globe


Amid high profits, Liberty Mutual cuts benefits

Liberty Mutual is cutting back contributions to retirement plans and other benefits for its employees, just a year after a public uproar over lavish pay and perks for top executives of the Boston insurer.

Under the new plan, the company will reduce the maximum sum it provides to match workers’ savings in their 401(k) plans to 6 percent from 7 percent. The insurer also will change its traditional pension plan to a more modest one that saves the company money. In addition, it will cut back insurance coverage for retirees.

Loading comments...

You have reached the limit of 10 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week