Barnwell Industries to terminate pension plan; about $3.7 million surplus may revert
Barnwell Industries' board approved terminating its employee pension plan, effective on or about November 30, 2026, with benefits to be paid through annuity purchases. As of September 30, 2026, plan assets of about $12.8 million exceeded the estimated termination liability of $7.3 million and a related supplemental retirement obligation of about $1.8 million by about $3.7 million, before costs and taxes. The company expects any remaining surplus to revert to it in December 2026, but says the amount and timing are not assured, so shareholders may see a benefit only if the surplus is realized.
Key points
- Board approved plan termination on September 30, 2026, effective on or about November 30, 2026.
- As of September 30, 2026: plan assets about $12.8 million; estimated termination liability $7.3 million; supplemental retirement plan obligation about $1.8 million.
- Estimated surplus of about $3.7 million before administrative and transaction costs, excise and other taxes, and any participant benefit increase.
- Company anticipates reversion in December 2026; estimates are preliminary and may change materially.
The filing
Written by AI on Nov 9, 2026, 8:51 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 05, 2026.
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