Press release

Legal & General Retirement America Completes $355M Pension Risk Transfer Deal with Trinity Industries, Inc.

Plan termination covers more than 7,500 participants

27 Jan 2021

Railroad tracks near river in a clear weather

Stamford, CT– Jan 27, 2021 – Legal & General Retirement America (LGRA) today announced it has completed a $355 million pension risk transfer (PRT) deal with Trinity Industries, Inc., a leading provider of rail transportation products and services in North America. The plan termination, which involves Trinity Industries, Inc. Consolidated Pension Plan, secures the benefits of more than 7,500 participants.

Willis Towers Watson – a long-standing benefits partner to Trinity Industries, Inc. – served as the strategic advisor for this complex plan termination and related annuity purchase. Trinity Industries, Inc.’s PRT transaction serves as one of seven deals completed by LGRA in Q4 2020. In total, LGRA surpassed $1.6 billion in premiums for the year with momentum continuing into 2021.

George Palms, President, Legal & General Retirement America: "We are thrilled to have been selected by Trinity Industries, Inc. as a trusted partner to deliver on pension commitments to its current and future retirees. Our financial strength, combined with a steadfast commitment to delivering outstanding service, are intended to provide peace of mind to the participants of Trinity’s pension plan."

Michelle Mead
Caliber Corporate Advisers

Michelle@calibercorporate.com
888.550.6385 ext.7

Notes to editors

Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with £1.2 trillion in total assets under management (as at HY24) of which c40% (circa £0.5 trillion) is international.

We have a highly synergistic business model, which continues to drive strong returns. We are a leading international player in Institutional Retirement, in Retail Savings and Protection, and in both public and private markets through our Asset Management division. Across the Group, we are committed to responsible investing and dedicated to serving the long-term savings and investment needs of customers and society.

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