Weyerhaeuser reduces pension liabilities by $660 million

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Weyerhaeuser Co., Seattle, reduced its U.S. pension plan liabilities by $660 million through lump sums in the fourth quarter, the timberland company disclosed Friday in an 8-K filing with the SEC.

The lump sums were offered earlier in the quarter to about 20,000 former employees vested in the plan who have yet to retire. The company did not say what percentage of those employees took the offer.

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Source: Pensions & Investments