(Mid-America Pension Rights Project): AK Steel transfers $280 million in pension liabilities with group annuity purchase
Via Pensions&Investments By Rob Kozlowski AK Steel Corp., West Chester, Ohio, purchased a group annuity contract from Massachusetts Mutual Life Insurance Co. to transfer about $280 million in pension liabilities, spokeswoman Lisa H. Jester said in an email. The transaction took place this month, according to a 10-Q filing with the SEC on Friday. AK Steel transferred the liabilities of about 5,400 retirees and beneficiaries to the … Continue reading (Mid-America Pension Rights Project): AK Steel transfers $280 million in pension liabilities with group annuity purchase