Legal & General Retirement America Completes $355M Pension Risk Transfer Deal With Trinity Industries, Inc.
Plan termination covers more than 7,500 participants
STAMFORD, CT / ACCESSWIRE / January 27, 2021 / Legal & General Retirement America (LGRA) today announced it has completed a $355 million pension risk transfer (PRT) deal with Trinity Industries, Inc., a leading provider of rail transportation products and services in North America. The plan termination, which involves Trinity Industries, Inc. Consolidated Pension Plan, secures the benefits of more than 7,500 participants.
Willis Towers Watson - a long-standing benefits partner to Trinity Industries, Inc. - served as the strategic advisor for this complex plan termination and related annuity purchase. Trinity Industries, Inc. s PRT transaction serves as one of seven deals completed by LGRA in Q4 2020. In total, LGRA surpassed $1.6 billion in premiums for the year with momentum continuing into 2021.
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