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Lockheed Reports Reduced DB Obligations from Lump Sums
PLANSPONSOR 
Feb. 12, 2015
"The company made lump-sum payments of $427 million in 2014, and the corresponding reduction in benefit obligation was $529 million.... Its benefit obligations at December 31, 2014, reflect new longevity assumptions, which had the effect of increasing the DB pension benefit obligations by $3.4 billion. Lockheed Martin utilized a discount rate of 4.00% when calculating its benefit obligations."
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