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.
Tag: pension risk transfer
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.
Mercer Recommends Areas of Focus for DB Plans in 2019
According to Mercer, developing a “journey plan” that outlines the strategic policy choices to move a plan to its ultimate destination is a step many plan sponsors have undertaken.
Helping DB Plan Clients Prepare for a Plan Termination
Consultants with Findley discussed a game plan for having data, financials and a communications strategy ready before embarking on a DB plan termination.
Bristol-Myers Squibb to Terminate $3.8 Billion Pension
It will offer lump sums to participants and transfer the remaining money to a group annuity contract from Athene Annuity and Life.
E.W. Scripps Plans Pension Risk Transfer With MassMutual
MassMutual will take on approximately $50 million of the company’s pension plan obligations.
Ideas to Help Manage Surplus Funding When Clients Terminate DB Plans
According to Brian Donohue, with October Three Consulting, the master strategy to get to full-funding-but-no-surplus on termination is to reduce plan risk by gradually changing the plan’s asset strategy as the plan approaches full funding—the “glide path” strategy that some sponsors have adopted.
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Pension Risk Transfer
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Conduct PRTs with Long-Term View in Mind
MassMutual has issued a white paper outlining all considerations for defined benefit plan sponsors considering a pension risk transfer.
Weyerhaeuser Reveals Plans to Reduce Pension Liabilities
The company will offer a lump-sum distribution window to certain participants and transfer certain retiree assets to a group annuity.
Single Premium Pension Buy-Out Sales Exceed $8.2 Billion
This is more than double the sales in the second quarter of 2017.
Prudential and Raytheon Announce Pension Risk Transfer Deal
Raytheon is the latest large employer to enter into a group annuity transaction, transferring nearly $1 billion in benefit obligations to Prudential.
MetLife Faces Court Challenges for Pension Risk Transfer and Beneficiary Practices
According to the text of the complaint, the action seeks to hold MetLife accountable for the company’s conversion of more than $500 million in annuitized retirement benefits, interest, and unlawful profits over the last 25 years. State regulatory authorities in Massachusetts are also getting involved.
Tax Law Prompts DB Plans to Boost Funding
They have until mid-September to deduct pension plan contributions at the rate of 35%; after that, the lower 21% rate kicks in.