Verizon Communications Inc.
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Verizon management retirees' suit may proceed, judge rules
Verizon Communications Inc., New York, management retirees may go forward with their federal lawsuit resulting from the pension buyout deal Verizon purchased from Prudential Insurance Co. of America, according to a U.S. District Court ruling Thursday.
Verizon contributes $1.7 billion to pension fund in Q4
Verizon Communications Inc. contributed $1.7 billion to the company's defined benefit pension plan during the fourth quarter of 2012, bringing the full-year contribution total to $3.5 billion, Francis J. Shammo, executive vice president and chief financial officer, said Tuesday.
Verizon management retirees sue to stop pension buyout
Verizon Communications Inc. management retirees filed a federal lawsuit Tuesday seeking to halt the pension buyout deal Verizon purchased from Prudential Insurance Co. of America.
Verizon annuity deal adds to pressure on long bonds - Pensions & Investments
Verizon Communications Inc. purchased an annuity contract with Prudential Insurance Co. of America for about 25% of its pension liabilities just when demand in the high-quality corporate bond market is starting to supplant supply in a low interest-rate environment.
Verizon to close DB plan to new union employees along with buyout
Verizon Communications Inc., New York, will close its defined benefit plans for union employees to new hires and place them exclusively in the company's 401(k) plan, as part of tentative contracts with the Communication Workers of America and International Brotherhood of Electrical Workers unions.
Funding issues to hit telecom bottom lines
The unfunded pension obligations of telecommunications giants AT&T Inc. and Verizon Communications Inc. could almost double by the end of 2011, potentially dropping the defined benefit plans below the mandated funded ratio of 80% and requiring large cash contributions in 2012.
CORPORATE GOVERNANCE BRIEFS: Verizon, Merrill Lynch succession disclosure sought
Push for diversity on boards, California plans told NEW YORK - Verizon Communications Inc. and Merrill Lynch & Co. are targets of a shareholder proposal by the $901 million Massachusetts Laborers Pension Fund, Burlington, calling on the companies to each disclose their CEO succession-planning
Verizon on alternatives edge
Verizon's addition of absolute return and private real estate options in its 401(k) plans puts it in a league of its own among its corporate brethen
Verizon move seen as new blow to DB funds
Not surprising Top-ranking match STAMFORD, Conn. — Verizon Communications Inc.'s announcement that it will freeze its $39 billion cash balance plan for management employees is being called the latest nail in the coffin for defined benefit plans. "Another one bites the dust. They're the latest
A quick exit for Bridgewater’s Harris
‘All about challenge' WESTPORT, Conn. — T. Britton Harris IV resigned as chief executive officer of alternatives manager Bridgewater Associates Inc. after five months on the job. Mr. Harris joined Bridgewater to fill the newly created CEO position in January, after being president of Verizon
Harris leaving Bridgewater after 5 months as CEO
T. Britton Harris IV today resigned as CEO of Bridgewater Associates, a job he held for five months. Mr. Harris filled the firm's newly created CEO position in January, after being president of Verizon Investment Management for more than four years. Mr. Harris took over the business management
Verizon likely to take control of MCI pension assets
Verizon Investment Management Corp., which manages the retirement assets of Verizon Communications Inc., New York, will probably absorb the investment management functions of MCI Inc.'s $396 million defined benefit plan once the two companies merge, speculated one money manager familiar with
Heitmann to replace Harris at Verizon
William F. Heitmann was named senior vice president-finance at Verizon Communications Inc., New York, and will replace T. Britton Harris IV as president of Verizon Investment Management Corp., confirmed Robert Varettoni, Verizon spokesman. According to an internal company e-mail memo obtained by
Harris exiting Verizon
‘A lot of respect' Joined in 2000 Overseeing many areas STAMFORD, Conn. — T. Britton Harris IV, president of Verizon Investment Management Corp., Stamford, is leaving to become chief executive officer of Bridgewater Associates Inc. Mr. Harris is a highly regarded leader in the pension fund
Harris creates panel for Verizon
T. Britton Harris IV, Verizon Investment Management's outgoing president, set up a three-member management committee to assume his duties until his replacement is hired, Mr. Harris said in an interview today. William J. Raver, COO and managing director-external equities; Wayne Hofmann, managing