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December 10, 2012
09:22 EDTVZVerizon says expects to record 'significant' charge in Q4
On December 10, the Verizon Management Pension Plan (VZ) purchased a single premium group annuity contract from The Prudential Insurance Company of America (PRU) to settle approximately $7.5B of pension liabilities of the Plan. The purchase was made pursuant to the definitive purchase agreement, dated October 17, entered into by Verizon Communications, Verizon Investment Management Corp., Fiduciary Counselors Inc., as independent fiduciary of the Plan, Prudential and Prudential Financial, Inc. Verizon contributed an aggregate of approximately $2.6B to the Plan since September 1 in connection with the transaction. Verizon says it will remeasure our pension and other postemployment benefit assets and liabilities based on updated actuarial assumptions including the actual return on plan assets during the year and the then current discount rate. As a result of this remeasurement and the purchase, Verizon expects to record a significant charge in Q4.
News For VZ From The Last 14 Days
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November 30, 2015
07:03 EDTVZVerizon management to meet with Canaccord
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November 18, 2015
11:33 EDTVZSprint announces launch of LTE Plus network
In celebration of the launch of its new LTE Plus network, Sprint (S) is introducing the biggest wireless offer in U.S. history - 50% off the price of most Verizon (VZ), AT&T (T) and T-Mobile (TMUS) rate plans, the company says. New customers can sign up for this offer nationwide Nov. 20 through Jan. 7, 2016. LTE Plus, available today in 77 major markets, takes advantage of Sprint's rich triband spectrum portfolio, and it uses some of the world's most advanced technologies in wireless, such as carrier aggregation and antenna beamforming. Customers who switch get 50 percent off most current rate plan prices from their current carrier. AT&T, T-Mobile and Verizon customers switching to Sprint also can take advantage of iPhone Forever, where they are eligible to upgrade every time a new iPhone launches. Customers must port one line, and can add up to 9 additional lines on the account. Customers must choose from the 50 percent off rate plans available from their current carrier. Cricket and MetroPCS customers also can switch and save 50 percent off their parent company's postpaid rates. 50 percent off pricing remains valid until Jan. 8, 2018, for activations between Nov. 20, 2015, and Jan. 7, 2016.

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