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Company is closing the plan, which covers about 70,000 employees, to reduce costs.
Employers fear changing tax treatment of workers' 401(k) contributions could slow savings, PSCA survey shows.
Shortfall swelled as the company spent more than $45B on share buybacks.
Average salary gain of 3.5% in 2016, AFP survey shows
How employers can protect themselves as the June 9 deadline looms.