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Unisys Transfers Approximately $320 Million of Its U.S. Defined Benefit Pension Obligations to F&G Through the Purchase of Group Annuity Contracts

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Unisys (NYSE: UIS) has announced the transfer of approximately $320 million of its U.S. defined benefit pension obligations to F&G through group annuity contracts. The transaction affects around 3,150 retirees and beneficiaries and represents the first step in reducing about $600 million of U.S. qualified defined benefit pension plan liabilities through 2026.

The pension benefits transfer will be executed through F&G's insurance subsidiaries and will maintain the same monthly pension benefit payments for affected retirees. The company expects to record a one-time, non-cash, pre-tax settlement charge of approximately $228 million in Q3 2025, with no impact on cash position as the purchase will be made using pension trust assets.

Unisys (NYSE: UIS) ha annunciato il trasferimento di circa $320 milioni delle sue obbligazioni pensionistiche statunitensi a benefici definiti a F&G tramite contratti di rendita di gruppo. La transazione riguarda circa 3.150 pensionati e beneficiari ed è il primo passo per ridurre circa $600 milioni di passività del piano pensionistico definito statunitense a benefici qualificati entro il 2026.

Il trasferimento dei benefici pensionistici avverrà tramite le filiali assicurative di F&G e manterrà gli stessi pagamenti mensili delle pensioni interessate. L'azienda prevede di registrare una contabilizzazione una tantum, non monetaria, di pre-imposta pari a circa $228 milioni nel terzo trimestre del 2025, senza impatto sulla posizione di cassa poiché l'acquisto sarà effettuato utilizzando attività fiduciarie della pensione.

Unisys (NYSE: UIS) ha anunciado la transferencia de aproximadamente $320 millones de sus obligaciones de pensiones definidas en Estados Unidos a F&G mediante contratos de anualidades grupales. La operación afecta a alrededor de 3,150 jubilados y beneficiarios y representa el primer paso para reducir alrededor de $600 millones de pasivos de planes de pensiones definidos calificados en EE. UU. para 2026.

La transferencia de los beneficios de pensión se ejecutará a través de las subsidiarias de seguros de F&G y mantendrá los mismos pagos mensuales de pensión para los jubilados afectados. La empresa espera registrar una carga de liquidación única, no en efectivo, antes de impuestos de aproximadamente $228 millones en el tercer trimestre de 2025, sin impacto en la posición de efectivo ya que la compra se realizará con activos fiduciarios de la pensión.

유니시스(UIS: NYSE)가 미국 내 확정급여 연금 의무 중 약 $320백만 달러를 그룹 연금 계약을 통해 F&G로 이관했다고 발표했습니다. 거래는 약 3,150명의 은퇴자 및 수혜자에게 영향을 주며, 2026년까지 미국의 자격 있는 확정급여 연금 플랜 부채 약 $600백만 달러를 줄이는 첫 단계에 해당합니다.

연금 수당 이관은 F&G의 보험 자회사들을 통해 이루어지며 해당 은퇴자들에게 매달 받게 될 연금 지급액은 동일하게 유지됩니다. 회사는 2025년 3분기에 약 $228백만 달러의 일회성 비현금 비과세 정산 비용을 기록할 것으로 예상하며, 매수는 연금 신탁 자산으로 이루어지므로 현금 위치에 영향은 없습니다.

Unisys (NYSE: UIS) a annoncé le transfert d’environ 320 millions de dollars de ses obligations de retraite à prestations définies américaines vers F&G via des contrats d’annuités groupés. La transaction concerne environ 3 150 retraités et bénéficiaires et constitue la première étape pour réduire d’environ 600 millions de dollars les passifs du régime de retraite à prestations définies qualifié américain d’ici 2026.

Le transfert des prestations de retraite sera exécuté par les filiales d’assurance de F&G et maintiendra les mêmes paiements mensuels de prestations pour les retraités concernés. L’entreprise prévoit d’enregistrer une charge de règlement unique, non monétaire et avant impôt d’environ 228 millions de dollars au troisième trimestre 2025, sans impact sur la position de trésorerie car l’achat sera effectué à partir des actifs fiduciaires du régime de retraite.

Unisys (NYSE: UIS) hat den Transfer von rund 320 Mio. US-Dollar seiner US-amerikanischen Leistungen aus der definierten Rentenversicherung an F&G durch Gruppen-Annuitäten-Verträge angekündigt. Die Transaktion betrifft rund 3.150 Rentner und Begünstigte und stellt den ersten Schritt zur Reduzierung von ca. 600 Mio. USD der Verbindlichkeiten des qualifizierten definierten Rentenplans in den USA bis 2026 dar.

Die Übertragung der Rentenleistungen wird über die Versicherungsgesellschaften von F&G erfolgen und dieselben monatlichen Rentenzahlungen für die betroffenen Rentner beibehalten. Das Unternehmen erwartet, im dritten Quartal 2025 eine Einmalbelastung vor Steuern von ca. 228 Mio. USD zu erfassen, nicht-bargeldlich, ohne Auswirkung auf die Cash-Position, da der Kauf mit Vermögenswerten des Pensionsfonds erfolgt.

أعلنت شركة يونيـس (NYSE: UIS) عن نقل ما يقرب من 320 مليون دولار من التزاماتها الأمريكية المعاشات المضمونـة إلى F&G من خلال عقود معاشات جماعية. تؤثر الصفقة على نحو 3,150 متقاعداً ووريثاً وتشكل أول خطوة لتقليل نحو 600 مليون دولار من الالتزامات في خطة المعاشات المضمونة المؤهلة الأمريكية حتى عام 2026.

سيتم تنفيذ نقل منافع المعاش عبر شركات التأمين التابعة لـ F&G والمحافظة على نفس المدفوعات الشهرية للمتقاعدين المتأثرين. تتوقع الشركة تسجيل تكلفة تسوية لمرة واحدة غير نقدية قبل الضرائب تبلغ حوالي 228 مليون دولار في الربع الثالث من 2025، بدون تأثير على المركز النقدي لأن الشراء سيُنفذ باستخدام أصول صندوق المعاش.

安亿思NYSE: UIS)宣布通过集团年金合同将其约 3.2 亿美元 的美国定义贡献养老金义务转移给 F&G。交易影响约 3,150 名退休人员及受益人,这是在 2026 年前通过约 6 亿美元 的美国合格定义受益养老金计划负债的第一步。

养老金福利转移将通过 F&G 的保险子公司执行,并将为受影响的退休人员维持相同的月度养老金支付。公司预计在 2025 年第三季度确认一笔一次性、非现金、税前和解费用,约 2.28 亿美元,对现金头寸没有影响,因为此次购买将使用养老金信托资产完成。

Positive
  • Strategic reduction of pension liabilities at favorable pricing
  • No changes to retirees' pension benefit amounts or payment schedules
  • No impact on company's cash position
  • Part of larger strategic plan to reduce $600M in pension liabilities by 2026
Negative
  • One-time, non-cash, pre-tax settlement charge of $228 million in Q3 2025

Consistent with Unisys' capital structure and pension strategy, this agreement removes pension liabilities at favorable pricing, further reducing the future cost of full removal of its U.S. pension liabilities

BLUE BELL, Pa., Sept. 29, 2025 /PRNewswire/ -- Unisys (NYSE: UIS) today announced it closed agreements with F&G Annuities & Life, Inc. ("F&G") to purchase group annuity contracts totaling approximately $320 million using plan assets. Unisys will transfer projected benefit obligations valued at a similar amount related to certain retirees under one of the Company's U.S. qualified pension plans to F&G.

As outlined in its July 24, 2025, investor presentation, this latest annuity purchase transaction is the first step in reducing approximately $600 million of U.S. qualified defined benefit pension plan liabilities through the end of 2026.

As part of the transfer, F&G's insurance subsidiaries, Fidelity & Guaranty Life Insurance Company and Fidelity & Guaranty Life Insurance Company of New York, will assume responsibility for pension benefits for approximately 3,150 retirees and beneficiaries with monthly benefits lower than certain thresholds. There will be no changes to the gross amount, timing, or form of the monthly pension benefit payments.

Unisys anticipates this action will result in a third-quarter 2025 one-time, non-cash, pre-tax settlement charge of approximately $228 million. Since the purchase will be made by the pension trust, there will be no impact on the Company's cash position.

About Unisys

Unisys is a global technology solutions company that powers breakthroughs for the world's leading organizations. Our solutions – cloud, data and AI, digital workplace, applications and enterprise computing – help our clients challenge the status quo and unlock their full potential. To learn how we have been helping clients push what's possible for 150 years, visit unisys.com and follow us on LinkedIn.

About F&G 

F&G Annuities & Life, Inc. is committed to helping Americans turn their aspirations into reality. F&G is a leading provider of insurance solutions serving retail annuity and life customers and institutional clients and is headquartered in Des Moines, Iowa. For more information, please visit https://www.fglife.com.

Forward-Looking Statements

Any statements contained in this release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Unisys cautions readers that the assumptions forming the basis for forward-looking statements include many factors that are beyond Unisys' ability to control or estimate precisely and are made based upon management's current expectations, assumptions and beliefs as of this date concerning future developments and their potential effect upon Unisys. There can be no assurance that future developments will be in accordance with management's expectations, assumptions and beliefs or that the effect of future developments on Unisys will be those anticipated by management. Forward-looking statements in this release include the impact on the U.S. pension. Additional information and factors that could cause actual results to differ materially from Unisys' expectations are contained in Unisys' filings with the U.S. Securities and Exchange Commission (SEC), including Unisys' Annual Reports on Form 10-K and subsequent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K, and other SEC filings, which are available at the SEC's web site, http://www.sec.gov. Information included in this release is representative as of the date of this release only and while Unisys periodically reassesses material trends and uncertainties affecting Unisys' results of operations and financial condition in connection with its preparation of management's discussion and analysis of results of operations and financial condition contained in its Quarterly and Annual Reports filed with the SEC, Unisys does not, by including this statement, assume any obligation to review or revise any particular forward-looking statement referenced herein in light of future events.

RELEASE NO.: 0929/10019

Unisys and other Unisys products and services mentioned herein, as well as their respective logos, are trademarks or registered trademarks of Unisys Corporation. Any other brand or product referenced herein is acknowledged to be a trademark or registered trademark of its respective holder.

UIS-C

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SOURCE Unisys Corporation

FAQ

How much pension liability is Unisys (UIS) transferring to F&G?

Unisys is transferring approximately $320 million of its U.S. defined benefit pension obligations to F&G through group annuity contracts.

How many Unisys retirees are affected by the pension transfer to F&G?

The pension transfer affects approximately 3,150 retirees and beneficiaries with monthly benefits below certain thresholds.

What is the financial impact of the pension transfer on Unisys (UIS)?

Unisys will record a one-time, non-cash, pre-tax settlement charge of approximately $228 million in Q3 2025, with no impact on the company's cash position.

Will the Unisys pension transfer affect retirees' benefit payments?

No, there will be no changes to the gross amount, timing, or form of the monthly pension benefit payments for affected retirees.

What are Unisys's long-term pension liability reduction goals?

Unisys aims to reduce approximately $600 million of U.S. qualified defined benefit pension plan liabilities through the end of 2026, with this transfer being the first step.
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