Archer Daniels Midland Sheds $500 million in Pension Liabilities

The Archer Daniels Midland Company is an American global food processing and commodities trading corporation, headquartered in Chicago, Illinois. On November 2, 2018 they transferred about $500 million in payments for 3,800 retirees to Prudential Insurance Co. of America. This is the first such transfer for the company whose pension plan assets total $2.448 billion, with projected benefit obligations of $3.109 billion and a funding ratio of 78.7%.