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PENSION AND OTHER POSTRETIREMENT BENEFITS
 9 Months Ended
Sep. 30, 2025
Retirement Benefits [Abstract]  
PENSION AND OTHER POSTRETIREMENT BENEFITS 4. PENSION AND OTHER POSTRETIREMENT BENEFITS
Tredegar sponsored a noncontributory defined benefit (pension) plan covering certain current and former U.S. employees. As of January 31, 2018, the plan no longer accrued benefits associated with crediting employees for service, thereby freezing all future benefits under the plan. On February 10, 2022, Tredegar announced the initiation of a process to terminate and settle its frozen defined benefit pension plan through lump sum distributions and the purchase of annuity contracts. On November 3, 2023, the pension plan termination and settlement process for the Company was completed, and the remaining pension plan obligation was transferred to Massachusetts Mutual Life Insurance Company. During 2023, the Company recognized a total pre-tax pension settlement loss of $92.3 million.
Tredegar also has a non-qualified supplemental pension plan covering certain employees. Effective December 31, 2005, further participation in this plan was terminated and benefit accruals for existing participants were frozen. Pension expense recognized for this plan was immaterial in the three and nine months ended September 30, 2025 and 2024.
In addition to providing non-qualified supplemental pension benefits, the Company provides postretirement life insurance and health care benefits ("Other Post-Retirement Benefits") for certain groups of employees. Tredegar and retirees share in the costs with employees hired on or before January 1, 1993, who receive a fixed subsidy to cover a portion of their health care premiums.
On October 31, 2025, Tredegar terminated the Other Post-Retirement Benefits by prefunding $0.1 million, representing all required contributions for the remainder of 2025. As of September 30, 2025, the Other Post-Retirement Benefits total obligation and unrecognized pre-tax actuarial gain reported in the condensed consolidated balance sheets is $5.0 million and $1.3 million, respectively, which is expected to be realized into the income statement during the fourth quarter of 2025.
The components of net periodic benefit cost for the pension and Other Post-Retirement Benefits reflected in the condensed consolidated statements of income for the three and nine months ended September 30, 2025 and 2024, are shown below:
Pension BenefitsOther Post-Retirement Benefits
 Three Months Ended September 30,Three Months Ended September 30,
(In thousands)2025202420252024
Service cost$— $— $3 $3 
Interest cost19 20 68 65 
Amortization of prior service costs, (gains) losses and net transition asset5 3 (68)(37)
Net periodic benefit cost$24 $23 $3 $31 
Pension BenefitsOther Post-Retirement Benefits
 Nine Months Ended September 30,Nine Months Ended September 30,
(In thousands)2025202420252024
Service cost$— $— $7 $8 
Interest cost58 57 204 203 
Amortization of prior service costs, (gains) losses and net transition asset15 15 (254)(120)
Net periodic benefit cost$73 $72 $(43)$91 
Pension and other postretirement liabilities were $6.4 million and $6.6 million at September 30, 2025 and December 31, 2024, respectively ($0.6 million included in “Accrued expenses” at September 30, 2025 and December 31, 2024 with the remainder included in “Pension and other postretirement benefit obligations, net” in the condensed consolidated balance sheets).