International Paper, Prudential Make $1.6 Billion Group Annuity Deal
Prudential will take over the benefit obligations of 23,000 retirees.
Prudential will take over the benefit obligations of 23,000 retirees.
De-risking move will help secure $190 million of benefits for 6,000 participants.
Newspaper publishers de-risk a combined $268.5 million.
Following the $1.3 billion group annuity purchase of 45,000 International Paper pensions, Prudential’s senior vice president and actuary shows CIO how it’s done.
72% of respondents likely to transfer additional liabilities in the future.
Despite fluctuations, the largest pension plans ended 2016 with their funded ratios little changed.