27 Jan 2021
Legal & General Retirement America Completes $355M Pension Risk Transfer Deal with Trinity Industries, Inc.
Plan termination covers more than 7,500 participants
Stamford, CT– Jan 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.
We are thrilled to have been selected by Trinity Industries, Inc. as a trusted partner to deliver on pension commitments to its current and future retirees. Our financial strength, combined with a steadfast commitment to delivering outstanding service, are intended to provide peace of mind to the participants of Trinity’s pension plan.
George Palms, President, Legal & General Retirement America
For further information, please contact:
Michelle Mead, Caliber Corporate Advisers, Michelle@calibercorporate.com, 888.550.6385 ext.7