August 8, 2018 / 8:24 PM / 7 days ago

BRIEF-Alcoa Corp Takes Additional Actions On U.S. Pension, Other Post employment Benefit Obligations

Aug 8 (Reuters) - Alcoa Corp:

* ALCOA CORPORATION TAKES ADDITIONAL ACTIONS ON U.S. PENSION AND OTHER POSTEMPLOYMENT BENEFIT OBLIGATIONS

* ALCOA CORP - ACTIONS ALIGN WITH ALCOA CORPORATION'S STRATEGIC PRIORITY TO STRENGTHEN BALANCE SHEET

* ALCOA CORP - HAS MADE A DISCRETIONARY CONTRIBUTION OF $100 MILLION TO FURTHER FUND ITS U.S. DEFINED BENEFIT PENSION PLANS.

* ALCOA CORP - NOTIFYING CERTAIN U.S. SALARIED RETIREES THAT COMPANY WILL NO LONGER PROVIDE RETIREE LIFE INSURANCE, EFFECTIVE SEPTEMBER 1, 2018

* ALCOA CORP - ALCOA WILL MAKE A ONE-TIME TRANSITION PAYMENT TO AFFECTED RETIREES TOTALING APPROXIMATELY $25 MILLION

* ALCOA - WILL RECORD AN ESTIMATED NON-CASH NET SETTLEMENT CHARGE OF $184 MILLION IN Q3 RELATED TO ANNUITY TDEAL, ELIMINATION OF RETIREE LIFE INSURANCE

* ALCOA - AS PART OF ANNUITY CONTRACT, ABOUT $290 MILLION IN OBLIGATIONS & RELATED ASSETS TO BE TRANSFERRED LATER THIS MONTH TO ATHENE ANNUITY AND LIFE CO Source text for Eikon: Further company coverage:

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