This website uses cookies. For more information please contact us or consult our privacy policy.

Your binder contains too many pages, the maximum is 40.

We are unable to add this page to your binder, please try again later.

This page has been added to your binder.

Covington Advises on One of the Largest U.S. Pension Transfers

September 15, 2016

WASHINGTON—Covington advised WestRock Company in its transfer of $2.5 billion of pension liabilities to Prudential Insurance Company of America. WestRock’s pension plan will purchase a group annuity contract from Prudential covering approximately 35,000 retirees and beneficiaries. This is one of the largest pension transfer transactions to have occurred in the United States.

WestRock is a leading provider of paper and packaging solutions in consumer and corrugated markets. WestRock has 39,000 employees and has more than 250 operating and business locations spanning North America, South America, Europe and Asia.

The Covington team advising WestRock included employee benefits partner Robert Newman and associate Jason Levy.

 

Share this article: