Accenture Reduces U.S. Pension Obligations by $1.6 Billion Through Previously Announced Plan Termination, Following Asset Transfer to AIG, MassMutual
* Plan Termination: The Plan's termination removed a total of
* Annuity Purchase: Accenture purchased group annuity contracts from AGL and
* New Pension Plan: Accenture has created a new, fully funded, defined benefit plan with approximately
Designated Plan fiduciaries selected AGL and
Together, these related actions have enabled Accenture to decrease its overall pension obligations by approximately
Affected participants will soon receive letters with further details.
Forward-Looking Statements
Except for the historical information and discussions contained herein, statements in this news release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "should," "likely," "anticipates," "expects," "intends," "plans," "projects," "believes," "estimates," "positioned," "outlook" and similar expressions are used to identify these forward-looking statements. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied. These include, without limitation, risks that: Accenture's actions to decrease its overall pension obligations will not reduce the company's pension risk or administrative costs to the extent expected or otherwise achieve the anticipated benefits for the company, as well as the risks, uncertainties and other factors discussed under the "Risk Factors" heading in
About Accenture
Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions - underpinned by the world's largest delivery network - Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With more than 411,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives. Visit us at www.accenture.com.
About AIG
Additional information about AIG can be found at www.aig.com and www.aig.com/strategyupdate | YouTube: www.youtube.com/aig | Twitter: @AIGinsurance www.twitter.com/AIGinsurance | LinkedIn: www.linkedin.com/company/aig. These references with additional information about AIG have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.
AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of
About
Senate Proposed Health Care Bill Would Harm Immigrants
Senate Better Care Reconciliation Act Is Not Better for Kidney Patients
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News