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Retirement Plans

T-Mobile-Sprint merger would combine more than $6 billion in retirement assets

Sprint Corp., Overland Park, Kan., and T-Mobile US Inc., Bellevue, Wash., announced plans on Sunday to merge, which would create a company with more than $6 billion in retirement plan assets.

The companies plan to "merge in an all-stock transaction at a fixed exchange ratio of 0.10256 T-Mobile shares for each Sprint share or the equivalent of 9.75 Sprint shares for each T-Mobile US share," said a joint news release, for an approximate value of the merger of $26 billion. The news release did not provide an expected closing date as the merger will require regulatory hurdles. When the deal closes, the combined company plans to retain the T-Mobile name and be headquartered in Bellevue, Wash.

The news release did not provide any information if the companies plan to merge the retirement plans.

As of Nov. 30, 2016, the Sprint Corp. Retirement Pension Plan had $1.3 billion in assets and as of Dec. 31, 2016, the Sprint 401(k) Plan had $2.7 billion in assets, according to the company's most recent Form 5500 filings.

As of Dec. 31, 2016, the T-Mobile USA Inc. 401(k) Retirement Savings Plan and Trust had $2 billion in assets, according to the company's most recent Form 5500 filings.

Fidelity Investments was the record keeper for both companies' 401(k) plans as of those dates.

Officials at Sprint and T-Mobile could not be immediately reached to provide further information.