McClatchy said in a statement that it would use the most of the proceeds from the deal -- $163 million -- to help refresh its
under-funded pension plan and another big chunk -- $65 million -- to holders of 2017-maturity bonds.
2 million company contribution to the
under-funded pension plan.
This means that its
under-funded pension plan obligations have been transferred to the federal insurer with a significantly reduced payout to retirees.
Does an
under-funded pension plan simply reflect poor recent performance of the stock market, or does it represent a serious long-term liability?
A decline in the run-rate cash funding requirements associated derived from the company's
under-funded pension plan.
2 million payment to the
under-funded pension plan while employee contributions would increase by 1 percent so they equal the company's contribution of 9.
Unresolved issues at the start of the lockout included health care costs, work rule changes, finding a replacement for the company's
under-funded pension plan and training concerns at the Middletown facility.
The
under-funded pension plan (81% funded, $607 million deficit as of Dec.
Cash will first be used to settle asbestos claims and to shore up the
under-funded pension plan.
Management is reviewing all options to mitigate the impact that the
under-funded pension plan will have on the Company's financial position and results of operations.
In an effort to shore up
under-funded pension plans, the Lane Transit District board has voted unanimously to adopt a less expensive plan for administrative employees who are hired after Jan.
Almost every week in the media, there is an article about
under-funded pension plans and looming labour shortages.
