AH Belo has split its GB Dealey Retirement Pension Plan into separately-sponsored plans. As per the agreement, the GB Dealey pension plan will continue to serve Belo employees, while AH Belo will sponsor two separate pension plans for about 5,100 current and former employees.
AH Belo will also make a contribution of $30 million into the two new defined benefit pension plans. The original plan had $370 million in assets, of which 60% or around $222 million will go to the GB Dealey plan, while the remaining will stay in the AH Belo plan, adds Pensions & Investments.
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