Morneau Shepell purchases buy-in annuity contracts for Stelco's Hamilton Works
August 27, 2019
Morneau Shepell Ltd. in its capacity as Plan Administrator, has purchased several buy-in annuity contracts on July 9, 2019 for the Stelco Inc. Retirement Plan for Salaried Employees at Hamilton Works (the "Plan") in order to secure the benefit entitlements of all Plan participants.
The complex transactions aimed at accomplishing various objectives such as preserving the favourable financial position of the Plan; ensuring fairness of treatment for all Plan participants; and maximizing Assuris benefit protection.
