Peabody Energy Co., St. Louis, distributed lump sums totaling $52 million to active and former salaried participants in one of its U.S. pension plans.
The company had provided an offer window to both active salaried employees and former salaried employees currently vested in the plan who had not started receiving benefits.
Those who were sent the offer had the choice to select an immediate lump sum payment or begin to receive their benefit in the form of a monthly annuity, according to the company's 10-K filing Tuesday with the SEC.
Peabody Energy did not provide further information on the population that received or elected the offer.
As of Dec. 31, Peabody Energy's pension plan assets — all U.S. — totaled $848 million, while projected benefit obligations totaled $816 million, for a funding ratio of 103.9%, according to the 10-K filing.
Peabody Energy spokeswoman Julie Gates could not be immediately reached for further information.
