pension buyout News

CNA Financial Corp., the commercial insurer majority-owned by Loews Corp., offered lump-sum payments to 11,000 former employees to encourage them to give up their pensions. The program could reduce fourth-quarter earnings by as much as $65 million, Craig Mense, the …

Hartford Financial Services Group Inc. is working to reduce its retirement obligations by paying former employees to give up their pensions. Last month, the insurer offered voluntary lump-sum payments to about 13,500 workers who had left the company and hadn’t …