Albertsons Cos., Boise, Idaho, purchased a group annuity contract from an insurance company to transfer $203.5 million in pension plan assets.
The transaction, completed in the three months ended Sept. 11, reduced the company's pension plan liabilities by $205.4 million, the grocery retailer disclosed in a 10-Q filing with the SEC on Wednesday.
The filing did not disclose the name of the insurer or the nature of the population whose liabilities were transferred.
Albertsons also did not disclose which of its pension plans was affected by the transaction.
According to its most recent 10-K filings, the company has three pension plans for union and non-union employees.
As of Feb. 27, pension plan assets totaled $1.94 billion, while projected benefit obligations totaled $2.37 billion, for a funding ratio of 81.9%.
Spokeswoman Melissa Plaisance could not be immediately reached for further information.
