Bankruptcy Court Backs Kodak Plan to Cut Retirement Benefits

If you've worked for Kodak and retired -- or know someone who has -- pay very close attention. A court has approved Kodak's plan to end benefits for retireees by the end of this year.

The program includes dental, medical, life insurance, and survivor income benefits. This won't affect pension, and Kodak says it will pay nearly $8 million that the Committee of Retirees for limited benefit costs, as well as a $635 million dollar unsecure claim.

The company says this move will help them recover from Chapter 11 bankruptcy.

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