Lee Enterprises to transfer $86 million in pension liabilities to annuity contracts

Lee Enterprises Inc. has purchased group annuity contracts from insurance companies to transfer $86 million in U.S. pension fund liabilities, Pensions & Investments reports. The Davenport, Iowa-based publishing company completed the transactions with the undisclosed insurers in September, according to an 8-K filing with the SEC on Sept. 23.