Moody’s Investors Service has indentified five companies with pension obligations in excess of $20 billion that it thinks will pursue group annuitizations. The ratings agency named Ford, Lockheed Martin, Northrop Grumman, Boeing, and Raytheon as plan sponsors that are likely to fully or partially terminate their pension obligations through a bulk annuity transaction, in which a plan sponsor offloads its pension liabilities onto an insurer. Moody’s said that all five have moved toward completely funding their plans and have outsized pension obligations relative to their market capitalizations, making them ideal candidates for annuitization according to a report at www.ai-cio.com.