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.
Tag: pension risk transfers
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...
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...
International Paper and Prudential Transfer $1.6 Pension Obligation
As part of the PRT agreement, Prudential will assume the responsibility for paying pension benefits to about 23,000 International Paper retirees.
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.
DISRUPTION: Time to Consider an OCIO for DC Plans?
GSAM Head of OCIO Greg Calnon says his firm is increasingly focused on supporting defined contribution plan sponsors; while pension plans are still the majority of clients, the...
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,...
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.
MetLife to Take On Pension Benefits for FedEx Retirees and Beneficiaries
Approximately 41,000 FedEx retirees and beneficiaries in defined benefit pension plans will receive annuity benefits.
Corporate and Public DB Plans Focusing on Different Outcomes
A study finds most corporate pensions are winding down, while public defined benefit plans are trying to get stronger—paths that will require some common and some different strategies.