R.R. Donnelley & Sons Co. Inc., Chicago, expects its pension and post-retirement income to decline by $17 million in 2003, confirmed Christopher Curtis, director of investor relations. It will lower the expected long-term rate of return for its pension plans, which have a combined $1.7 billion in assets, to 9% from 9.4%, and lower its 2003 discount rate for pension income to 6.7% from 6.9%, according to the companys 10-K filing with the SEC.
The plans unfunded liability was $148 million as of Sept. 30, the latest figures available, Mr. Curtis said. The company made no significant contributions to the plans in 2002, and none is planned for 2003, he said.