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2 Min Read (Reuters) - J.C. Penney Co Inc said on Thursday it has agreed to transfer its pension obligations to annuities provider Athene Holding Ltd, ensuring that the U.S. department store chain’s retired employees will continue to get their benefits. FILE PHOTO: A JC Penney store is shown in Oceanside, California, U.S., July 31, 2019. REUTERS/Mike Blake J.C. Penney, which said in December that it would seek to exit bankruptcy protection sometime this year, will not receive any money as part of the deal, but will shed the liabilities that came with the pensions. “We are thrilled that this one-of-a-kind transaction will enable the Pension Plan to pay the benefits that JCPenney intended the participants to receive,” J.C. Penny said in an emailed statement.

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