Pension buyouts

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  1. NCR Corp. agrees to partial pension buyout with Principal Life Insurance

    trueNCR Corp. announced Wednesday it has purchased a group annuity contract from Principal Life Insurance Co. to transfer about $160 million in pension liabilities, representing 4,500 retirees receiving benefits from its pension fund.

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  1. TRW completes largest U.K. buyout to date with L&G

    trueThe TRW Pension Scheme, Solihull, England, agreed to a £2.5 billion ($3.9 billion) partial buyout with Legal & General Assurance Society, forming part of a year-long risk transfer project, said David Ellis, U.K. head of bulk pensions insurance at Mercer, the lead adviser to the trustee.

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  2. Rock-Tenn settles $249 million in obligations for lump-sum offer

    trueRock-Tenn Co. announced Monday that it has settled $249 million in projected benefit obligations through a voluntary lump-sum offer to former employees who have yet to retire.

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  3. 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.

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  4. 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.

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  5. 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.

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  6. 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.

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  7. 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.

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  8. 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.

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  9. 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.

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  10. 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.

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  11. 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.

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  12. 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.

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  13. 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.

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