Prudential, Warburg Pincus Partner on Reinsurance Firm
The two financial firms are launching Prismic Life Reinsurance with $10 billion in reserves.
EBSA Mulls Modifying PRT Rules
Many stakeholders advised the DOL on how to change fiduciary standards for annuity provider selection.
ERISA Advisory Council Highlights Trends in Pension Risk Transfers
PRTs are trending upward, but their relationship with private equity and non-traditional investments is drawing more scrutiny.
Fidelity Starts Reinsurer Focused on PRT, Retail Annuities
The investment giant has registered a Bermuda affiliate to focus on the booming pension risk transfer and retail annuity markets, according to a filing.
DB Pension Risk Transfers May Slow Due to Lack of Liquidity
Experts at last week’s PLANADVISER DB Summit discussed the challenges of transferring risk despite high interest rates.
Senate Legislation Calls for Expanded Lump-Sum Payment Disclosures
The bill’s cosponsors say workers need better information about how the choice of a lump-sum buyout of their lifetime pension could undermine their financial future.
New York State Fines Pacific Life for PRT Violations
The company was penalized for violating state law by conducting an unlicensed insurance business.
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.