Company: SABR
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001597033-25-000027
Chunk: 453

Company: Sabre Corp
Filing Date: 2025-02-20
Form: 10-K
Item: Item 1A
Chunk 453
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 14. Stock and Stockholders’ Equity for further details.

17. Pension and Other Postretirement Benefit Plans We sponsor the Sabre GLBL Inc. 401(k) Savings Plan (“401(k) Plan”), which is a tax qualified defined contribution plan that allows tax-deferred savings by eligible employees to provide funds for their retirement. We make a matching contribution equal to 100% of each pre-tax dollar contributed by the participant on the first 6% of eligible compensation. We recognized expenses related to the 401(k) Plan of approximately  $14 million, $17 million and $18 million for the years ended December 31, 2024, 2023 and 2022, respectively.We sponsor the Sabre GLBL Inc. Legacy Pension Plan (“LPP”), which is a tax qualified defined benefit pension plan for employees meeting certain eligibility requirements. The LPP was amended to freeze pension benefit accruals as of December 31, 2005, and as a result, no additional pension benefits have been accrued since that date. In April 2008, we amended the LPP to add a lump sum optional form of payment which participants may elect when their plan benefits commence. The effect of the amendment was to decrease the projected benefit obligation by $34 million, which is being amortized over 23.5 years, representing the weighted average of the lump sum benefit period and the life expectancy of all plan participants. We also sponsor postretirement benefit plans for certain employees in Canada and other jurisdictions.The following tables provide a reconciliation of the changes in the LPP’s benefit obligations and fair value of assets during the years ended December 31, 2024 and 2023, and the unfunded status as of December 31, 2024 and 2023 (in thousands): Year Ended December 31, 20242023Change in benefit obligation:Benefit obligation at January 1$(292,212)$(297,763)Interest cost(14,934)(16,151)Actuarial gain (loss), net6,046 (5,854)Benefits paid25,764 27,556 Benefit obligation at December 31$(275,336)$(292,212)Change in plan assets:Fair value of assets at January 1$218,861 $214,574 Actual return on plan assets6,550 19,193 Employer contributions12,570 12,650 Benefits paid(25,764)(