Each year in Illinois, increasing pension obligations are consuming more of its taxpayers’ dollars, pushing cities and towns to cut core services and raise property taxes just to keep up with the payments, policy experts say.
J.C. Penney Co. Inc. on Friday unveiled a plan to reduce its pension obligations by $5 billion, or 25% to 35%. The company said it has already completed a lump-sum offer to participants in the pension plan and entered an agreement with The...
The move is likely to depress Kimberly-Clark's second quarter GAAP results. However, it may also provide a bump to Kimberly-Clark's valuation as part of the non-current liability towards employee benefits will get shifted to the insurers. We will...
Kimberly-Clark expects to reduce its pension obligations by about $2.5 billion by transferring responsibility for benefits owed to roughly 21,000 of its U.S. retirees to Prudential Financial and MassMutual.
Visit StreetInsider.com at http://www.streetinsider.com/Corporate+News/Bristol-Myers+Squibb+%28BMY%29+Will+Transfer+%241.4B+of+U.S.+Pension+Obligations+to+Prudential+%28PRU%29/9872966.html for the full story.
NEW YORK CITY (dpa-AFX) - Biopharmaceutical company Bristol-Myers Squibb Co
(BMY) said Tuesday it will settle $1.4 billion in pension obligations through
the purchase of a group annuity contract from Prudential Insurance Co of America
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