Pension buyouts

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  1. 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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  1. 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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  2. 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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  3. 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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  4. 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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  5. 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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  6. 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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  7. 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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  8. 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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  9. 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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  10. 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.

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  11. 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.

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  12. 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.

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  13. 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.

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