Seeking Alpha

Verizon (VZ) is transferring $7.5B of the $30B in obligations held by its management pension...

Verizon (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)
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)