Donnelley Financial Solutions completes pension plan termination

Donnelley Financial Solutions (DFIN) confirmed the successful completion of the previously announced termination of its primary defined benefit pension plan, which had been frozen since 2011. The process, which began in 2024, was completed in the third quarter of 2025, at which time the company settled the Plan obligations through a combination of lump sum payments to certain Plan participants and the purchase of a non-participating irrevocable group annuity contract from a third-party insurer, backed by state guarantees. In connection with the Plan Settlement, the company made a cash contribution of $12.5 million to fully fund the Plan during the third quarter of 2025. As a result of the Plan Settlement, the company remeasured the Plan’s assets and obligations and will recognize a pre-tax non-cash settlement charge of approximately $83 million in its third quarter 2025 results, due to the recognition of unrealized accumulated Plan losses previously reported within accumulated other comprehensive loss on the company’s balance sheet. The Plan Settlement results in the removal of a net liability of approximately $10 million (approximately $200 million of Plan obligations and approximately $190 million of Plan assets) from the company’s balance sheet.