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 ...