U.S. Markets open in 2 hrs 14 mins
  • S&P Futures

    4,381.50
    -93.25 (-2.08%)
     
  • Dow Futures

    34,105.00
    -511.00 (-1.48%)
     
  • Nasdaq Futures

    14,308.00
    -193.00 (-1.33%)
     
  • Russell 2000 Futures

    2,008.40
    -23.30 (-1.15%)
     
  • Crude Oil

    0 (0)
     
  • Gold

    1,841.10
    -0.60 (-0.03%)
     
  • Silver

    23.83
    +0.03 (+0.11%)
     
  • EUR/USD

    1.1348
    +0.0031 (+0.2724%)
     
  • 10-Yr Bond

    1.7350
    -0.0120 (-0.69%)
     
  • Vix

    28.85
    +3.26 (+12.74%)
     
  • GBP/USD

    1.3555
    -0.0045 (-0.3321%)
     
  • USD/JPY

    113.6500
    -0.4500 (-0.3944%)
     
  • BTC-USD

    36,332.93
    +2,586.84 (+7.67%)
     
  • CMC Crypto 200

    823.79
    +13.18 (+1.63%)
     
  • FTSE 100

    7,494.13
    -90.88 (-1.20%)
     
  • Nikkei 225

    27,522.26
    -250.64 (-0.90%)
     

U.S. Steel, Alcoa make changes that will add charges in 4Q

·2 min read
U.S. Steel, Alcoa make changes that will add charges in 4Q
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • AA
  • X

Alcoa Corp. announced the purchase of group annuity contracts that will facilitate the transfer of approximately $1 billion of pension obligations and assets associated with defined benefit pension plans for certain U.S. retirees and beneficiaries. Alcoa (NYSE:AA) said in a release this will further enhance its strong balance sheet, reduce the risk from volatility in pension plan obligations and continue to meet commitments to retirees and beneficiaries. The group annuity contracts will be executed by two subsidiaries of Athene Holding Ltd. Athene will assume payments for approximately 11,200 participants in the U.S. pension plans.