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Rob Kozlowski, Pensions & Investments

Alcatel-Lucent plans voluntary lump-sum offer in 2015

June 5, 2014 - 1:10pm

Alcatel-Lucent Murray Hill New Jersey

Alcatel-Lucent headquarters in Murray Hill, N.J.


Alcatel-Lucent, Murray Hill, N.J., plans to make a voluntary lump-sum offer in 2015 to about 45,000 U.S. retirees and former employees vested in its U.S. defined benefit pension funds, according to a 6-K filing with the U.S. Securities and Exchange Commission.

The company does not expect to make any extra contributions to its U.S. pension plans as part of the effort. Kurt Steinert, company spokesman, said a specific timetable for an offer has yet to be determined, and the company has no specific target for the number of plan participants it hopes will take the offer.

As of Dec. 31, the U.S. pension funds had $30.1 billion in assets and $26.2 billion in projected benefit obligations, for a funding ratio of 115%, according to the company's most recent 20-F filing.

Rob Kozlowski writes for Pensions & Investments, a sister publication of Business Insurance.

 



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