annuities

JCPenney Offloads $2.8 Billion in Pension Liabilities
Retirement Plans

JCPenney Offloads $2.8 Billion in Pension Liabilities

The transfer deal with annuities provider Athene Holdings will ensure that about 30,000 participants in JCPenney's pension plan continue to get benefits.
By Matthew Heller | April 2, 2021
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MassMutual to Buy American Financial Annuity Unit
M&A

MassMutual to Buy American Financial Annuity Unit

The $3.5 billion deal came a day after Allstate said it would sell its life insurance business to private-equity giant Blackstone for $2.8 billion.
By Matthew Heller | January 28, 2021
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MetLife Fined $10M Over Annuity Accounting
Risk & Compliance

MetLife Fined $10M Over Annuity Accounting

The SEC says the insurer failed to maintain a sufficient system of internal controls, resulting in an improper release of annuity reserves.
By Matthew Heller | December 19, 2019
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Why Terminating a Pension Plan May Be Unaffordable
Retirement Plans

Why Terminating a Pension Plan May Be Unaffordable

Not only is it expensive to buy annuities to fund existing retiree benefits, but financial statement issues also may stymie plan terminations.
By David McCann | May 29, 2019
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MetLife Shares Plunge on Restatement News
Financial Reporting

MetLife Shares Plunge on Restatement News

The insurer says it underestimated its group annuity reserves because of "a material weakness in internal control over financial reporting.”
By Matthew Heller | January 29, 2018
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MetLife Stock Falls on News of Accounting Error
Risk & Compliance

MetLife Stock Falls on News of Accounting Error

The insurer says an internal review determined it had incorrectly stated its combined risk-based capital ratio.
By Katie Kuehner-Hebert | October 14, 2015
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