New York Times inks deal to transfer $235 million in pension liabilities

2020-10-14T11:33:16-07:00October 14th, 2020|Categories: Pension Funding|Tags: , |

New York Times Co., New York, entered into an agreement with Massachusetts Mutual Life Insurance Co. to purchase a group annuity contract to transfer about $235 million in U.S. pension plan liabilities. The contract will transfer the benefit payment responsibilities for about 1,850 retirees and beneficiaries in the New York Times Cos. Pension Plan to MassMutual, according to an 8-K filing Tuesday with the SEC. The transaction, which the company expects to finalize in early 2021, will be funded [...]