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4 companies offload pension liabilities

Pensions & Investments, 2019-02, Vol.47 (3), p.45

COPYRIGHT 2019 Crain Communications, Inc. ;Copyright 2019 Crain Communications Inc. All Rights Reserved. ;ISSN: 1050-4974 ;EISSN: 1944-7671

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  • Title:
    4 companies offload pension liabilities
  • Author: Kozlowski, Rob
  • Subjects: Aerospace industry ; Annuities ; Asset acquisitions ; Balance sheets ; Beneficiaries ; Defined benefit plans ; Employees ; Insurance ; Insurance industry ; Pension plan funding ; Pension plans ; Pensions ; Wood pulp industry
  • Is Part Of: Pensions & Investments, 2019-02, Vol.47 (3), p.45
  • Description: Lockheed Martin Co., Bethesda, Md., disclosed in an 8-K filing with the Securities and Exchange Commission on Jan. 29 it has purchased two group annuity contracts from Prudential Insurance Co. of America and Athene Annuity and Life Co. totaling $2.6 billion. Weyerhaeuser Co., Seattle, also entered into an agreement to purchase a group annuity from Athene Annuity and Life transferring about $1.5 billion in U.S. pension plan liabilities, the timberland company disclosed in an 8-K filing with the SEC on Jan. 29. Allegheny Technologies Inc., Pittsburgh, purchased a group annuity from an insurance company to transfer $97 million in U.S. pension plan liabilities, the specialty metals company disclosed in an 8-K filing with the SEC on Jan. 22.
  • Publisher: Chicago: Crain Communications, Inc
  • Language: English
  • Identifier: ISSN: 1050-4974
    EISSN: 1944-7671
  • Source: ProQuest Central
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