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.
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.
Companies with under-funded pension plans
are prevented from promising extra benefits to employees without paying for those promises up front.