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30 cze 2024 · Prudential has been selected for a second pension risk transfer with International Business Machines Corporation (IBM).
In September 2022, the company transferred $16 billion of its U.S. qualified defined benefit pension plan obligations to Prudential and Metropolitan Life Insurance Company. Exiting 2023, IBM’s U.S. qualified defined benefit pension plan (the “Plan”) was funded at 123%.
14 wrz 2022 · IBM has purchased two group annuity contracts from Prudential and MetLife for some participants and beneficiaries in the IBM Personal Pension Plan. The contracts will provide guaranteed pension payments starting from January 1, 2023.
16 wrz 2024 · As class action lawsuits increase over pension risk transfers, IBM has announced that it entered into a $6 billion PRT agreement with Prudential Insurance Company, completed on Sept. 11.
12 wrz 2024 · PRU. (Reuters) - IBM (IBM) said on Wednesday it expects a pre-tax charge of nearly $2.7 billion in the third quarter, related to a transaction involving the transfer of some of its pension...
Exiting 2021, IBM’s U.S. qualified defined benefit pension plan (the “Plan”) was funded at 112%. The overall funded status of the Plan makes the transfer of a portion of the pension liabilities and assets to an insurance company a logical next step to further de-risk retirement-related plans.
12 wrz 2024 · IBM on Wednesday disclosed that on September 5 it entered into an agreement with Prudential Insurance Company of America to transfer about $6 billion in defined benefit pension obligations to an annuity provided by the insurer.
