Tag: Defined benefit

Prudential and International Paper Enter PRT Transaction

The Prudential Insurance Company of America has agreed to provide a group annuity contract and take on approximately $1.3 billion in pension liabilities from International Paper, focusing on vested employees with smaller monthly benefits. 

Closed DB Plan Nondiscrimination Relief Extended Further

The IRS and the Treasury Department expect that the final regulations regarding closed DB plans will not be published in time for plan sponsors to make plan design decisions based on the final regulations before expiration of previous relief provided.