The Hartford Reduces Pension Liabilities By $1.6 Billion
By a
The agreement will transfer responsibility for current and future pension benefits for about 16,000 former employees, or about 38 percent of The
"We are pleased that this transaction preserves these pension benefits while reducing the company's long-term pension obligations," said The
As a result of the transaction, the company expects to recognize, in second quarter 2017, a pension settlement charge to net income of approximately
Those participants who are being transferred to Prudential will receive initial notice from The
Prudential Retirement delivers retirement plan solutions for public, private, and nonprofit organizations. Services include defined contribution, defined benefit and non-qualified deferred compensation recordkeeping, administrative services, investment management, comprehensive employee education and communications, and trustee services, as well as a variety of products and strategies, including institutional investment and income products, pension risk transfer solutions and structured settlement services. With more than 85 years of retirement experience, Prudential Retirement helps meet the needs of 4.2 million participants and annuitants. Prudential Retirement has
HIG-F
Keywords for this news article include: The
Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2017, NewsRx LLC
After acquittal in murder for hire case, East Bay man sentenced for fraud
Four Springs TEN31 Xchange, LLC Announces Closing of FSC Healthcare I, DST Offering $5,320,000
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News