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Lockheed Martin Moves $2.6B In Pension Risk To Insurance Annuity | Swfi - Sovereign Wealth Fund Institute

by swfinstitute.org posted 1week ago 266 views
A new 8-K filing revealed that defense contractor Lockheed Martin Corporation purchased two different group annuity contracts, making outside insurers responsible for US$ 2.6 billion in pension liabilities. A US$ 1.8 billion deal with Prudential Financial Inc. will cover 32,000 members of Lockheed’s defined benefit plan. The other deal is a US$ 800 million agreement […]