Unisys Corp., Blue Bell, Pa., announced in a news release Monday that 5,800 former employees who are vested in its U.S. pension plan have accepted a lump-sum offer.
The company will make payments totaling about $216 million to those former employees who are vested in the plan but have yet to retire. Unisys did not specify how many former employees to whom the company originally made the offer.
The reduction in liabilities will have “minimal impact on funding levels,” the news release said. The lump-sum offer reduces the total number of participants by about 8%.
As of Dec. 31, U.S. pension plan assets totaled $3.76 billion, while projected benefit obligations totaled $5.23 billion, for a funding ratio of 71.9%, according to its most recent 10-K filing with the Securities and Exchange Commission.
Company spokesman Brian Daly said the company would not provide further information.