US. Lockheed Martin offloads $4.9 billion in pension liabilities
Lockheed Martin Corp., Bethesda, Md., purchased group annuity contracts from Athene Holding Ltd. to transfer about $4.9 billion in U.S. pension plan liabilities. The purchase completed Tuesday will transfer the benefit-paying responsibilities for about 18,000 U.S. retirees and beneficiaries to Athene's wholly owned subsidiaries Athene Annuity and Life Co. and Athene Annuity & Life Assurance Company of New York, a news release from the aerospace and defense company said Tuesday. The Athene subsidiaries will begin paying benefits to the retirees and...
