A judge approved a Xerox pension settlement.
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The action settling a class-action suit will mean that 44,000 past and present Xerox employees will receive an increase in their retirement packages that could cost the company more than $120 million over the next 40 years. It grants to any non-union person employed by Xerox between Jan. 1, 1982, and Nov. 17, 1982, who is or will become vested in the company’s pension plan by working 10 continuous years, an additional 0.96% non-cumulative annual pension increase.
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