Motorola Solutions enters into third-largest U.S. buyout on record

2014-09-25T18:25:19-07:00September 25th, 2014|Categories: Pension Funding|Tags: , |

Motorola Solutions Inc., Schaumburg, Ill., entered into a pension buyout agreement with Prudential Insurance Co. of America and will offer lump-sum payouts to terminated vested employees to reduce $4.2 billion in pension obligations, said a SEC filing. The buyout will total approximately $3 billion and cover approximately 30,000 Motorola Solutions retirees. According to Prudential, this is the third-largest U.S. pension buyout to date, after General Motors Co. and Verizon Communications Inc. Motorola also said it intends to contribute $1.1 [...]