Pensions
FirstEnergy Transfers 2,200 Retiree Pensions to Insurers
Legal & General Retirement America and RGA Reinsurance took on $700 million in pension liabilities.
Tag: annuity contracts
Pensions
Verizon Announces $5.9B Pension Transfer
Insurers Prudential and RGA Reinsurance will assume obligations for 56,000 pensioners who are already receiving benefits.
Pensions
ATI to De-Risk Nearly $1.8B in Pension Obligations
The firm will transfer 85% of its U.S. defined benefit plan obligations to Athene through annuity contracts.
Pensions
IBM De-Risks $16 Billion in Pension Obligations
Prudential, MetLife to take over responsibility for 100,000 participants and beneficiaries.
Regulation
Pacific Life Fined for Unlicensed Pension Risk Transfers in New York
The insurance firm will pay a $3 million fine for unauthorized PRT business conducted in the state.
Asset Allocation
BlackRock Launches Service to Include Annuities in 401(k) Plans
The asset management giant has signed up five sponsors in a new program aiming to provide a lifetime of retirement income.
News
AK Steel Transfers $615 Million in Pension Obligations
Move brings firm’s total pension risk transfer to $1.1 billion since 2016.