Yea. That’s definitely “old school”. You’d have a hard time finding that today.
Exxon was like that years ago prior to my employment in the early 1980’s (or so the old-timers at time told me.) In the old days, if Exxon’s pension was “overfunded” due to unexpectedly good investment returns, retirees got a raise in benefits beyond inflation. Oddly, corporate greed actually got me an undeserved pension after I left the company shortly after the 5-yr mark. See link: