Franklin Electric Co., Inc. has entered into a significant agreement with Principal Life Insurance Company to purchase a Single Premium Guaranteed Annuity Contract. This contract will facilitate the transfer of pension benefit obligations for approximately 684 retirees and beneficiaries from Franklin Electric's Pension Plan to the insurer. The move, aimed at terminating the company's Pension Plan, is expected to reduce its U.S. pension plan liabilities by around $30 million. The transaction will be funded by the assets of the Plan and is set to conclude by July 29, 2025, provided all closing conditions are met. This arrangement will see the insurer assume responsibility for annuity payments starting July 29 for deferred annuitants and October 1 for retired annuitants.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。