AT&T Derisks 96 000 Retirees’ Pensions

AT&T has transferred $8.1 billion dollars’ worth of employee pension liability through the purchase of group annuity contracts from Athene Annuity & Life Co, and Athene Annuity & Life Assurance Co of New York.

The pension risk transfer deal was reported to be concluded on Wednesday May 3, 2023.

In August 2023, Athene will become responsible for paying the pensions of 96 000 AT&T retirees.

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