BlueLinx Holdings Inc., Marietta, Ga., distributed $10 million in lump sums in the fourth quarter to former employees in its pension plan.
Lump sums to "certain qualified former employees or their beneficiaries who were vested participants" represented about $12 million in projected benefit obligations, the company disclosed in its 10-K filing with the SEC on Wednesday.
Whether the lump-sum offer included both former employees in the BlueLinx Corp. Hourly Retirement Plan who have yet to retire and retirees could not be immediately learned.
As of Dec. 31, plan assets totaled $84 million, while PBO totaled $107 million, for a funding ratio of 78.5%.
BlueLinx officials could not be immediately reached for further information.