PRT Activity Anticipated to Increase Within the Decade
Several factors will likely drive more mid-market and large plan sponsors to initiate pension risk transfer (PRT) transactions, surveys show.
Aon, Alight Win Lawsuit Alleging PRT Failures
Following a bench trial, said the firms “acted prudently and reasonably in administrating, investing and terminating the pension plan.”
AIG Enters Consent Order with New York DFS Over PRT Transactions
AIG will pay a $12 million penalty to New York state for unlicensed pension risk transfer business.
Should Advisers Bother With Pension Plans?
Most in the retirement planning industry agree that defined contribution is the future. But what opportunities are there for advisers interested in serving traditional defined benefit pensions? Many, it turns out.
PRT Provider Fined for Unlawful Transactions in New York
Athene will pay a $45 million penalty to New York state for New York insurance law violations related to its pension risk transfer business.
Pension Risk Transfer on the Rise
The Path Forward
Watching Interest Rates Can Save Clients Money on PRTs
The higher the annuity credited rate (interest rate) for a pension risk transfer (PRT), the more interest an insurer would earn and the less money it needs today in order to guarantee the monthly benefit, but the lower the interest rate, the less interest it would earn and the more money it needs today, explains Mark Unhoch, with October Three.
OneAmerica PRT Account Holders Offered Enhanced Website
The expanded portal will provide the same level of service to retirees (who are currently receiving a payment/annuity) that it does to those still employed (or who are eligible but have not started to draw from their pension).
It’s Important to Understand PRT Balance Sheet Hits
Looking at the hits company balance sheets take from a pension risk transfer (PRT) to terminate a defined benefit (DB) plan, may cause plan sponsors to change course.
Avery Dennison Transferring $750M in Pension Obligations to AIG
The agreement covers 8,500 retirees, beneficiaries and deferred and active members.
MassMutual PRT Annuitants Offered Enhanced Website
The company has improved navigation, provided more self-service features and information, and offered mobile access.
4Q18 Volatility Wiped Out Funding Status Gains for DB Plans
Pension plans’ funding rose a mere 70 basis points last year, according to Goldman Sachs Asset Management.
2018 Largest Asset Allocation De-Risking Year for DB Plans Since 2011
Actions taken by defined benefit (DB) plan sponsors helped them reduce Pension Benefit Guaranty Corporation (PBGC) premiums, according to a J.P. Morgan analysis.
Medium and Large Plans Drive Peak Pension Risk Transfer Sales in 2018
In 2018, single premium buy-out product sales peaked at $26 billion, more than 14% higher than 2017, according to LIMRA Secure Retirement Institute’s quarterly U.S. Group Annuity Risk Transfer Survey.
IRS No Longer Intends to Amend Regulations Affecting Retiree Lump-Sum Windows
The agency previously announced it would amend required minimum distribution regulations in a way that would prohibit the offering of lump-sum windows to defined benefit (DB) plan participants already retired and in pay status.
Lockheed Martin Announces Pension Risk Transfer
In December 2018, certain of the corporation's pension plans used pension trust assets to purchase group annuity contracts from insurance companies for $2.6 billion.
Interest in Pension Risk Transfer Expected to Increase in 2019
The majority of DB plan sponsors plan to completely divest all of their company’s liabilities in the near future
2018 Beyond(k): HSAs, Pension Risk Transfer, Student Loan Debt Relief
A look at some of the products and services retirement plan sponsors are requesting outside of 401(k) plans.
MetLife Reaches Agreement With Massachusetts Over PRT Beneficiary Payment Practices
A lawsuit filed by a participant whose benefit liability was transferred to MetLife in a pension risk transfer (PRT) deal is still ongoing.