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Verizon (VZ) is transferring $7.5B of the $30B in obligations held by its management pension...
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Wednesday, October 17, 2012, 5:38 PM ETVerizon (VZ) is transferring $7.5B of the $30B in obligations held by its management pension plan to Prudential (PRU), a move that affects ~41K retirees. Verizon's pension plan will buy a group annuity contract from Prudential, which will then make future annuity payments to retirees. Big Red says the move furthers its efforts to de-risk its pension plan. (PR)
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