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.
Robin Lenna, executive vice president, retirement and income solutions at MetLife, is retiring from the company effective March 1.
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.
U.S. corporate pension plan buyouts reached $6.38 billion in the quarter ended Sept. 30, up 7.4% from the same quarter in 2016.
More U.S. corporations than ever are offloading pension fund liabilities, and doing so more strategically.
More U.S. corporations with pension plans are concentrating on managing the benefits and liabilities of their plans.
Ball Corp. purchased a group annuity contract from Prudential to transfer about $220 million in U.S. pension plan liabilities.
NCR Corp., Duluth, Ga., will offer a voluntary lump-sum window to about 7,000 former employees vested in its U.S. pension plan.
Fortress Investment Group reported $70.6 billion in assets under management as of March 31, a 0.1% gain from three months earlier, and up 1% from the year before.