Graham Holdings Co., Arlington, Va., purchased a group annuity contract in the fourth quarter from an undisclosed insurance company to transfer the pension plan liabilities of a group of retirees.
The company recorded a settlement gain of $91.7 million for the quarter, the company disclosed in an 8-K filing Wednesday with the SEC.
Graham Holdings did not provide further information on the assets and liabilities transferred, or when the insurance company took on benefit payments.