Treehouse Foods Inc., Oak Brook, Ill., made about $33 million in lump-sum payments in the fourth quarter to former employees vested in its U.S. defined benefit plans but who had yet to retire, the company disclosed in its 10-K filing on Tuesday.
The company had opened a lump-sum window to 1,474 former employees that ended Oct. 31, and, according to the 10-K filing, about 59% of them accepted the offer.
As of Dec. 31, U.S. pension plan assets totaled $279 million, while projected benefit obligations totaled $325 million, for a funding ratio of 85.8%. The discount rate for 2017 was 3.7%, down from 4.25% the previous year.
As of that same date, the actual asset allocation was: 50.7% domestic equities, 39% fixed income, 6.9% international equities, 3% emerging markets equities and 0.4% short-term investments.
A Treehouse Foods spokesman declined to comment.