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.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
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.
