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MetLife, MassMutual Win $1.6 Billion Pension-Risk Deal with PPG
Bloomberg 
June 28, 2016
"MetLife Inc. and Massachusetts Mutual Life Insurance Co. agreed to take on $1.6 billion in pension liabilities from PPG Industries Inc., the maker of paints and coatings.... The deal accounts for about 13,400 of PPG's salaried and non-union hourly retirees or their survivors who began receiving benefit payments before April 2 ... The insurers will assume the obligation to make all future annuity payments and administer the arrangements. Other participants will remain in PPG's pension plan."
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