Foamex Announces Changes to Retirement Plans

Linwood, NJ, November 6, 2007–Foamex said it will freeze future benefit accruals under its defined benefit pension plan, and preserve all existing earned benefits, as of December 31.

Also, Foamex said  that effective January 1 it will increase its matching contributions to its 401(k) Savings Plan and adopt the Internal Revenue Service safe-harbor formula by matching 100% of the first 3% of contributions by its employees, and 50% of the next 2% of employee contributions.

“These changes allow us to continue to provide a competitive compensation package, which will be effective in recruiting and retaining employees, and give us more predictable retirement plan costs,” said Jack Johnson, president and CEO.