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Makro Staff Pension Scheme completes buy-in with Rothesay Life
trueThe Makro Staff Pension Scheme completed a £185 million ($291.5 million) pension buy-in with Rothesay Life, said Emma Watkins, partner at Lane Clark & Peacock and lead adviser on the deal.
About 70% of terminated vested employees accept Magnetek lump-sum offer
trueMagnetek Inc. announced Wednesday that more than two-thirds of terminated vested participants in its defined benefit plan to whom the company offered a lump sum this fall have taken the offer.
Flowers Foods completes lump-sum offer with 60% acceptance
trueFlowers Foods Inc. announced in a Securities and Exchange Commission filing Wednesday it has made a voluntary lump-sum offer to about 2,500 terminated vested employees who are yet to retire.
CTL Engineering completes pension buyout with Aviva
trueCTL Engineering Pension Scheme completed a full buyout with Aviva as part of an acquisition deal in which the pension fund’s sponsoring company, CTL Engineering Ltd., was involved.
CNA Financial makes lump-sum offer to former employees
trueCNA Financial Corp. offered lump sums to about 11,000 former employees vested in its defined benefit plan.
Aon Minet pension fund completes third buy-in
trueAon Minet Pension Scheme completed a second pension buy-in with Pension Insurance Corp., covering £210 million ($336 million) of liabilities.
Boeing offers lump-sum, immediate annuity options to 40,000 former employees
trueBoeing Co., Chicago, is offering an option of a lump-sum payout or an annuity to 40,000 former employees who have not yet retired, the first time the company has offered such choices from its existing defined benefit plans.
Hartford Financial offers lump sums to former employees
trueHartford Financial Services Group Inc. offered lump sums to about 13,500 terminated vested participants in its frozen defined benefit plan.
2 senators call for derisking rules
trueSenate Finance Committee Chairman Ron Wyden, D-Ore., and Senate Health, Education, Labor and Pensions Committee Chairman Tom Harkin, D-Iowa, want federal regulators to set clear guidelines for employers undertaking pension derisking.
Education firm RM enters into pension buy-in with PIC
trueRM PLC, Abingdon, England, agreed to a buy-in with Pension Insurance Corp. to insure 13% of the liabilities of the company's defined benefit plan.
Ryder System offers lump sums to former employees
trueRyder System Inc. is offering a lump-sum payment to about 11,000 former employees vested in its frozen U.S. defined benefit plan, the company announced in an SEC filing on Wednesday.
Unilever enters into buy-in with Legal & General on expatriate fund
trueUniac Pension Fund agreed to a buy-in with Legal & General Group to insure £129 million ($208.5 million) of liabilities.
Panasonic completes pension fund buyout for U.K. unit
truePanasonic Systems Networks Co. U.K. Ltd. Pension and Life Assurance Scheme completed a buyout with Rothesay Life.
Ofcom completes total pension buy-in with Legal & General
trueOfcom, London, agreed to the final pension buy-in with Legal & General in a series of deals over the past six years to cover all £250 million ($398.7 million) of pension liabilities across its two pension plans.
Bristol-Myers Squibb announces $1.4 billion pension buyout
trueBristol-Myers Squibb Co. said it would settle $1.4 billion in pension obligations by purchasing a group annuity contract from Prudential Insurance Co. for approximately 8,000 retirees and beneficiaries.