Prudential Insurance to take over J.C. Penney pension
October 02, 2015 at 07:28 AM EDT
Oct 2 (Reuters) - J.C. Penney Co Inc said Prudential Insurance Co of America will take over administration and benefit payments to 43,000 retirees as part of a plan that will reduce its $5 billion U.S. pension obligation by up to 35 percent.