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BRIEF-Alcoa Corp Signs Group Annuity Contracts To Transfer Canadian Pension Obligations And Assets [Reuters]

ALCOA (AA)  More Company Research Source: Reuters
Last alcoa earnings: 4/18 04:10 pm Check Earnings Report
US:NYSE Investor Relations: investors.alcoa.com
PDF BRIEF-Alcoa Corp Signs Group Annuity Contracts To Transfer Canadian Pension Obligations And Assets | Reuters Reuters Staff 1 Min Read April 3 (Reuters) - Alcoa Corp: * ALCOA CORPORATION SIGNS GROUP ANNUITY CONTRACTS TO TRANSFER CANADIAN PENSION OBLIGATIONS AND ASSETS * SIGNED GROUP ANNUITY CONTRACTS TO TRANSFER ABOUT $555 MILLION IN OBLIGATIONS, AND RELATED ASSETS, OF DEFINED BENEFIT PENSION PLANS IN CANADA * GROUP ANNUITY CONTRACTS WITH THREE CANADIAN INSURANCE COMPANIES WILL COVER APPROXIMATELY 2,100 RETIREES OR BENEFICIARIES * IN Q2 OF 2018, ALCOA EXPECTS TO RECORD A NON-CASH SETTLEMENT CHARGE OF ABOUT $175 MILLION * AS PART OF ANNUITY AGREEMENTS, CO TO CONTRIBUTE ABOUT $95 MILLION IN MID-APRIL 2018 TO FACILITATE ANNUITY TRANSACTION * COMPANIES TO BEGIN MAKING BENEFIT PAYMENTS TO AFFECTED PLAN PARTICIPANTS BY JULY Source text for Eikon: Further company coverage: All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. Š 2018 Reuters. [Read more]

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