Business News: Bristol-Myers Squibb to Transfer $3.8 billion in U.S. Pension Liabilities

Business News: Bristol-Myers Squibb to Transfer $3.8 billion in U.S. Pension Liabilities

Plan has sufficient assets to satisfy all transaction obligations; no Company cash contribution expected
Benefits to be distributed through a combination of lump sum payments and the purchase of a group annuity contract from Athene, whose core business is the long-term management and administration of retirement benefits

NEW YORK – Bristol-Myers Squibb Company (NYSE: BMY) today announced it will transfer $3.8 billion of U.S. pension obligations through a full termination of its U.S. Retirement Income Plan (the “Plan”). 

Continue reading Business News: Bristol-Myers Squibb to Transfer $3.8 billion in U.S. Pension Liabilities at STL.News.