Bethesda, Maryland based Lockheed Martin Corp. transferred $1.9 Billion in pension obligations for 20,000 US retirees to a subsidiary of MetLife, Metropolitan Tower Life Insurance Co. Lockheed Martin has done at least two previous pension risk transfers to insurance companies. In January 2019, Lockheed Martin transferred $1.8 Billion in pension obligations to Prudential and also transferred $800 million to Athene Annuity & Life Co. in an annuity “buy-in” impacting approximately 9,000 Lockheed retirees. For more on “buy-in” transfers, click here to see a previous post by Edward Stone Law. Lockheed Martin contributed $5 Billion to its pension plan during 2018, and $1 Billion in 2019.
https://secureservercdn.net/126.96.36.199/umw.66a.myftpupload.com/wp-content/uploads/2019/07/Edward-Stone-Law-Logo-Web-1.jpg 0 0 lisa https://secureservercdn.net/188.8.131.52/umw.66a.myftpupload.com/wp-content/uploads/2019/07/Edward-Stone-Law-Logo-Web-1.jpg lisa2020-02-04 14:35:052020-02-04 14:39:00Lockheed Martin Pension Risk Transfer to MetLife