UIS - Unisys Transfers Approximately $200 Million of its U.S. Defined Benefit Pension Obligations to F&G Through the Purchase of Group Annuity Contracts | Benzinga
This agreement reflects the company's continued focus on reducing pension liabilities, volatility and costs while securing retiree pension benefits with highly rated insurance companies
BLUE BELL, Pa., April 1, 2024 /PRNewswire/ -- Unisys (NYSE:UIS) today announced it closed agreements with F&G Annuities & Life, Inc. ("F&G") on March 28th to purchase group annuity contracts totaling almost $200 million using plan assets. Unisys will transfer projected benefit obligations valued at a similar amount related to certain retirees under one of the company's U.S. qualified pension plans to F&G.
As part of the transfer, F&G's insurance subsidiaries, Fidelity & Guaranty Life Insurance Company and Fidelity & Guaranty Life Insurance Company of New York, will assume ...