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Debt Financing / Related, Business Deals

Lockheed Martin Reduces Gross Pension Obligation By $4.3 Billion With Purchase Of Group Annuity Contracts

Published: 06/27/2022 21:18 GMT
(ATH) - Lockheed Martin Reduces Gross Pension Obligation by $4.3 Billion With Purchase of Group Annuity Contracts.
Lockheed Martin Corp - Has Purchased Group Annuity Contracts From Athene Holding Ltd.
Lockheed Martin - to Transfer About $4.3 Billion of Gross Pension Obligations, Related Plan Assets for About 13,600 U.S. Retirees, Beneficiaries to Athene.
Lockheed Martin Corp - Contracts Were Purchased Using Assets From Lockheed Martin's Master Retirement Trust.
Lockheed Martin Corp - No Additional Funding Contribution Was Required As Part of This Transaction.