🍀FedEx to Purchase $6 Billion Group Annuity Contract from Metropolitan Life Insurance Company to Reduce Pension Obligations
MEMPHIS, Tenn., May 8, 2018—FedEx Corp. (NYSE: FDX) announced today it has entered into an agreement with Metropolitan Life Insurance Company (“Metropolitan Life”) to purchase a group annuity contract and transfer approximately $6 billion of the company’s U.S. pension plan obligations.