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. 

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