Materion Corp. Transfers $111 million in U.S. Pension Liability

Mayfield Heights, Ohio material products and tech company, Materion Corporation, made a group annuity purchase on November 6, 2018 to transfer about $111 million of their U.S. pension liabilities. The transfer to Mutual of American Life Insurance Company will affect roughly 1,150 retirees and represents 43.4% of Materion’s $256 million in pension liabilities. Materion expects to fund the purchase using existing plan assets without any further cash contribution and will eliminate approximately 43% of their U.S. pension liability beginning in January of 2019. For more information on the risks associated with pension de-risking contact Edward Stone at eddie@edwardstonelaw.com.