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PPG Industries transfers $309 million in pension liabilities via annuity

Posted On: Apr. 25, 2023 10:17 AM CST

PPG Industries Inc. purchased a group annuity contract in March to transfer $309 million in U.S. pension plan liabilities to insurance companies, Pension & Investments reports. The Pittsburgh-based chemical company disclosed the transaction in its 10-Q filing with the SEC on April 21, though it did not disclose the number of insurers or their names.