Hill-Rom Holdings Inc., Chicago, has purchased a group annuity contract from an insurance company to transfer $41 million in pension plan assets.
The health-care technology company completed the transaction March 9, it disclosed in a 10-Q filing with the SEC on May 1. The name of the insurance company was not provided.
As of Sept. 30, global pension plan assets totaled $311 million, while projected benefit obligations totaled $380 million, for a funding ratio of 81.8%, according to Hill-Rom's latest 10-K filing with the SEC. Assets were not broken down by region.
Spokesman Howard Karesh could not be immediately reached for further information.
