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The Clorox Co. is terminating is primary U.S. pension plan, Pension & Investments reports. The Oakland, California-based household products company plans to settle the plan with a combination of lump sums to participants and the purchase of a group annuity contract from an insurance company to transfer the remaining assets and liabilities, a recent 10-K filing said. The plan was frozen as of June 30, 2011, for all employees except for union employees, whose benefits were frozen to future accruals effective Jan. 1, 2019.
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