RTX Corporation
11/13/2025 | Press release | Distributed by Public on 11/13/2025 06:30
Material Event (Form 8-K)
Item 8.01. Other Events.
On November 7, 2025, RTX Corporation (the "Company") initiated a buy-out conversion of a group annuity contract purchased by the RTX Consolidated Pension Plan (the "Plan") from The Prudential Insurance Company of America ("Prudential"). The transaction will result in the transfer of approximately $2.5 billion of gross pension obligations from the Plan to Prudential.
Assets from the Plan's trust were previously used to purchase a group annuity contract with a buy-out conversion option with no additional funding contribution required by RTX. Upon completion of the buy-out, Prudential will assume the obligation and administrative responsibility for retirement benefits owed to approximately 60,000 Plan retirees and beneficiaries (the "Transferred Participants") which represents approximately one-third of retirees and beneficiaries in the Plan. There will be no change to the amount of benefits payable to the Transferred Participants as a result of the transaction.
The transaction will not diminish the Plan's funded status. In connection with the transaction, the Company expects to recognize a one-time, non-cash pretax pension settlement charge of approximately $300 million in the fourth quarter of 2025. The actual impact will depend on finalization of the actuarial and other assumptions. The transaction is subject to customary closing conditions and is expected to close by December 30, 2025.
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