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Verizon to Transfer $7.5B in Pension Benefits Through Annuity Purchase
Under the arrangement, Verizon will transfer about $7.5 billion in pension plan obligations to Prudential Insurance Co. of America by purchasing the annuity. The agreement covers plan participants who retired and began receiving pension benefits before Jan. 1, 2010.
- By Jerry Geisel
- October 18, 2012
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