WebALCOA RETIREMENT PLAN II is a Defined Benefit Plan providing retirees with a predetermined monthly retirement benefit upon reaching a specific age. The retirement benefit paid to a retiree is typically calculated using a formula which often employs years of credited service under the plan and salary information. The retirement benefit is ... WebApr 14, 2024 · PITTSBURGH-- ( BUSINESS WIRE )--Alcoa Corporation today announced the purchase of group annuity contracts that will facilitate the transfer of approximately $235 million of pension obligations and ...
Alcoa to hold off on U.S. pension contribution
WebDec 4, 2024 · In October of 2024, Alcoa offered lump sum buyouts to specific participants in its U.S. defined benefit pension plans. As a result, the Company paid approximately $110 million from plan assets on November 30, 2024 to about 1,700 participants and was relieved of the corresponding pension liability. WebApr 15, 2024 · PITTSBURGH--(BUSINESS WIRE)--Alcoa Corporation today announced the purchase of group annuity contracts that will facilitate the transfer of approximately $235 million of pension obligations and assets associated with defined benefit pension plans for certain Canadian retirees and beneficiaries. The transfer, which will be complete later … nys paid family leave 2021
Alcoa -- Contact Overview
WebAlcoa Retirement Savings Plan for Fasteners Systems and Commercial Windows Employees, initially effective January 1, 2011. (3) In the event a Participant ceases to be an Eligible Employee under this Plan and the Participant becomes an eligible employee under one of the Alcoa Savings Plans listed in (3) above, all of the Participant’s accounts ... WebThe Alcoa retirement plan has a pension service of twenty years. This means that employees must work for Alcoa for at least twenty years before they are eligible to … Web17 hours ago · This is the Company’s sixth pension annuity transaction for a total transfer of approximately $3.6 billion in pension obligations and assets since 2024. The latest group annuity contracts, which required no cash funding from Alcoa, will be executed by Industrial Alliance Insurance and Financial Services Inc. and will cover approximately 500 ... magic seaweed surf forecast for va beach va