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Kroger Beefing Up Flimsy Pension Plan

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Kroger Co. (KR), the largest supermarket chain in the U.S., Monday said it will make a contribution of up to $1 billion to pension plan.

The supermarket chain plans to fund the contribution by issuing debt, according to a regulatory filing.

The company expects a one-time expense in 2017 related to the settlement of obligations

"We believe a contribution to the plan and payout to participants at this time are strategic opportunities based on the current interest rate environment, the potential future changes to the U.S. tax code, and scheduled Pension Benefit Guaranty Corporation fee increases," the company stated in the filing.

by RTT Staff Writer

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