RockTenn Corp. hopes to reduce its defined benefit obligations by $200 million-$300 million by offering lump-sum payments to former employees who have yet to retire. 

The Norcross, Georgia-based manufacturer of packaging solutions said about 9,000 of its former workers will be eligible. 

They'll have until Aug. 5 to make a decision. RockTenn's estimated savings to overall pension liabilities comes from experiences other sponsors have had issuing lump-sum payments. 

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.