NorthWestern Energy Transfers Pension Liability to Pacific Life Insurance
NorthWestern Energy, based in Sioux Falls, South Dakota transferred $94 million in pension liabilities to Pacific Life Insurance effective January 1, 2022. This pension de-risking transfer effected 1,062 participants in the NorthWestern Energy Pension Plan. Pacific Life is now responsible for paying benefits to those retirees. NorthWestern Energy serves gas and electric to customers in the western two-thirds of Montana and eastern South Dakota and serves electricity to Yellowstone National Park.