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8 months ago
BRIEF-McClatchy to purchase group annuity contract from American United Life Insurance
December 27, 2016 / 10:47 PM / 8 months ago

BRIEF-McClatchy to purchase group annuity contract from American United Life Insurance

Dec 27 (Reuters) - McClatchy Co

* McClatchy Co - on Dec 20, co's retirement committee entered into an agreement to purchase a group annuity contract from American United Life Insurance Co

* McClatchy - plan purchased annuities,settled obligations for group of annuitants commencing with monthly payment to be made in Jan 2017 - SEC filing

* Co does not expect a material impact on co's pension expense as a result of the agreement

* Says agreement to transfer certain of its outstanding pension benefit obligations under McClatchy Company retirement plan

* McClatchy - estimated projected benefit obligation related to annuitants was $46 million, plan paid $49.5 million in cash, including related insurance premium Source text: (bit.ly/2ibFAml) Further company coverage:

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