Pensions
IBM Secures $6B Pension Risk Transfer With Prudential
The latest deal follows the company closing its defined contribution plan in 2023 in favor of a cash-balance pension plan and an earlier $16 billion PRT.
The investment management veteran comes from Cambridge Associates.
The study also suggested that workers should be required to join 401(k)s and other retirement programs.
Applications for the Prospect Fellowship, which aims to help candidates launch new firms, are due October 14.
A recent survey found that investment professionals agree AI standards are needed before they utilize the technology.
The Canadian pension fund’s asset value increased nearly C$12 billion for the year to June 30.
According to the pension fund, changes under the new contract mean the financial services firm will have ‘some skin in the game.’
The worker influx has led to moderate wage growth and thus held down inflation, according to the firm’s Arone.