IBM Transfers Responsibility for Pensions of 100,000 Retirees to Prudential and Metlife

International Business Machines Corporation, more commonly known as IBM, has transferred $16 billion worth of its defined benefit pension plans obligations to insurers Prudential and Metlife. The transaction impacts approximately 100,000 retirees and is one of the largest pension risk transfer deals done in the United States in the past decade.

Read more about it here.