Ball Corporation Transfers $176 million in Pension Liabilities

On November 1, Ball Corporation of Broomfield, Colorado purchased a group annuity contract from an unnamed insurance company to transfer around $176 million in pension liabilities. The packing company, founded in 1880 and famous for its early production of glass jars, did not divulge the name of the insurance company or the number of retirees affected by the transfer. This is the second transfer of pension liabilities for Ball Corporation in two years. In 2017 they purchased a group annuity contract from Prudential that affected 11,000 retirees and transferred $220 million in pension liabilities. For more information on the risks associated with pension de-risking contact Edward Stone at eddie@edwardstonelaw.com.