Teradyne purchased a group annuity contract from an insurance company to transfer about $151 million in pension plan liabilities.
The pension buyout trend shows no signs of slowing down, although how many more jumbo deals are in the offing is unclear.
Not everyone is in agreement that pension risk transfers leave a plan sponsor with less risk.
MetLife disclosed it has not paid about 13,500 participants in its group annuity population over the past 25 years.
Arrow Electronics transferred about $42 million in U.S. pension plan liabilities to an insurance company following the purchase of a group annuity contract.
Rockwell Collins Inc. purchased a group annuity contract to transfer $103 million in pension plan liabilities to an insurance company.
More U.S. corporations than ever are offloading pension fund liabilities, and doing so more strategically.
HP Inc. announced in a 10-Q filing with the Securities and Exchange Commission that about 17,000 participants in its U.S. defined benefit plan accepted a lump-sum offer.