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LSC Communications Pension Termination

Sep 27, 2023 1:33:25 PM
written by The Retirement Group

In a pivotal move, LSC Communications has made the difficult decision to terminate its pension plan, a decision driven by the plan's significant underfunding and the company's financial constraints. The LSC Communications pension plan's underfunding has been exacerbated by a multifaceted web of challenges. The printing industry's decline, coupled with the escalating costs associated with providing pension benefits, has created a perfect storm.

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posted in Financial Planning, Lump Sum, Pension, 2023, LSC Communications

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Information regarding the lump-sum payout may or may not apply to specific employees based on factors such as mergers, acquisitions, years of service, age, or the date an employee was hired.