https://edwardstonelaw.com/wp-content/uploads/2019/07/Edward-Stone-Law-Logo-Web-1.jpg 0 0 lisa https://edwardstonelaw.com/wp-content/uploads/2019/07/Edward-Stone-Law-Logo-Web-1.jpg lisa2021-04-30 14:34:212021-08-22 14:38:38Arconic Transfers $1 Billion to MassMutual
Arconic Transfers $1 Billion to MassMutual
Arconic Corporation, the aluminum provider based in Pittsburgh transferred $1 Billion in pension liabilities to Massachusetts Mutual Life Insurance Company. This transaction affected approximately 8,400 Arconic retirees or beneficiaries. Prior to the transfer, Arconic made a $250 million contribution to its US pension funds. MassMutual assumes responsibility for making payments to the retirees and beneficiaries in July 2021.