Peoples Financial amends Tulaney retirement plan to add lifetime monthly benefit after 20-year payout period

Reuters2026/09/01 20:09

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Peoples Financial Services amended former President Thomas P. Tulaney’s Supplemental Executive Retirement Plan on Aug. 28, 2026.
The change follows the bank’s purchase of an annuity contract to fund Tulaney’s normal retirement benefit under the plan.
If Tulaney outlives the plan’s 20-year normal retirement benefit period, the bank will make monthly payments for life.
Payments will match the amount payable from the annuity contract.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Peoples Financial Services Corp. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001104659-26-104305), on September 01, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Peoples Financial amends Tulaney retirement plan to add lifetime monthly benefit after 20-year payout period

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