Motorola Solutions announced that it will offload the pensionobligations of approximately 30,000 retirees.
Prudential Insurance Company will assume the responsibility ofmanaging the communication company’s retiree defined benefitpension assets and disbursing monthly payments.
The group annuity contract with Prudential is the third largesttransaction of its kind. In a statement, Motorola said it expectsto reduce its ongoing pension obligations by $4.2 billion.
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