Donnelley Financial Solutions (DFIN) said Thursday it completed the termination of its primary defined benefit pension plan in Q3, which had been frozen since 2011.
The company said it settled the plan obligations through a combination of lump sum payments to certain plan participants and the purchase of a non-participating irrevocable group annuity contract from a third-party insurer.
The plan settlement results in the removal of a net liability of about $10 million from the company's balance sheet, consisting of approximately $200 million of plan obligations and about $190 million of plan assets, Donnelley said.
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