Blue Bird transfers pension obligations for 2,044 participants to Pacific Life

Blue Bird Corp

Plan purchased group annuity contracts; $94M in liabilities transferred, funded by Plan assets.
In April 2026, Plan paid ~$13M in lump-sum distributions to certain participants.
Company expects material non-cash pension settlement charge in Q3 FY2026 ending June 27, 2026.
Pacific Life assumes benefit obligations effective August 1, 2026; Plan to terminate thereafter.
No additional funding required from Blue Bird; closing expected May 19, 2026.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Blue Bird Corp entered into Agreement with Pacific Life Insurance Company and Pacific Life & Annuity Company (effective 2026-05-12).

Action: entry
Counterparty: Pacific Life Insurance Company and Pacific Life & Annuity Company
Effective: 2026-05-12

Exact text from the filing

On May 12, 2026, Blue Bird Body Company, a wholly-owned subsidiary of Blue Bird Corporation (the “Company”), acting solely in its capacity as plan sponsor of the Blue Bird Body Company Employee Pension Plan (the “Plan”), a frozen defined benefit pension plan that is qualified under Internal Revenue Code, entered into an agreement (the “Agreement”) with Pacific Life Insurance Company and Pacific Life & Annuity Company (collectively, “Pacific Life”) relating to the Plan.

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Blue Bird Corp filing history →

Source: SEC EDGAR

accession 0001589526-26-000034

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