(Reuters) -RTX Corp ( RTX ) said on Thursday it will incur non-cash pretax charge of about $300 million in the fourth quarter related to the transfer of $2.5 billion in pension obligations to a Prudential Financial ( PRU ) unit through an annuity buyout.

The annuity buyout will shift responsibility for payments to about 60,000 retirees and beneficiaries, or about one-third of those covered by the defense company's plan, to the insurer.

The transaction is expected to close by December 30, 2025.