AT&T’s Epic $8 Billion Friday-Night News Dump

via Business Insider

The running joke in news is that companies dump news when people aren’t looking, like before holidays or on Friday nights before long weekends.

AT&T met the latter criteria this week.

On Friday night, AT&T disclosed that in the fourth quarter, it will take a $7.9 billion noncash, pretax loss related to an adjustment in assumptions made for its pension plan.

The company announced that on Dec. 31, it adjusted its assumed discount rate for its pension obligation to 4.3%. Previously, the company had used a 5% discount rate, according to its most recent 10-K filed with the SEC…

Read the full article HERE

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About thebenefitblog

Eric is a Producer at Lockton Insurance Brokers, Inc., the world’s largest privately held commercial broker. Eric has over 23 years of experience in the insurance industry and has spent the last 11 years with Lockton. Eric specializes in Health & Welfare Benefits, Retirement Planning, and Executive Benefits. Eric's clients utilize his expertise in the areas of Plan Due Diligence, Transaction Structure, Fiduciary Oversight, Investment Design, Compliance and Vendor negotiation to improve the operational & financial outcome for each client. The Benefit Blog is a place to share that expertise and industry news.
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