McDonnell Transfers Pension Fund: McDonnell Douglas Corp....
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From Times Staff and Wire Reports
McDonnell Transfers Pension Fund: McDonnell Douglas Corp. said it would record a net gain of $234 million in the third quarter from a change it is making in an over-funded pension plan for retired workers. The St. Louis-based defense contractor said Metropolitan Life Insurance Co. has agreed to buy an annuity contract that will provide benefits to about 14,200 retired participants in a $5.9-billion plan for salaried former employees.
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