Kimberly-Clark enters into pension buyout, reduces $2.5 billion in liabilities

2015-02-23T19:47:54-08:00February 23rd, 2015|Categories: Pension Funding|Tags: , , |

Kimberly-Clark Corp., Dallas, announced Monday it has purchased group annuity contracts from Massachusetts Mutual Life Insurance Co. and Prudential Insurance Co. of America to transfer defined benefit plan benefits of about 21,000 U.S. retirees. The company also announced it will make a contribution of between $400 million and $475 million to the U.S. pension fund as part of this transaction. When the transaction is complete, the company said its projected benefit obligation will be reduced by about $2.5 billion. […]