IBM Accused of $14B Pension Risk Transfers to ‘Unsafe’ Insurer
IBM allegedly jeopardized the retirement security of more than 132,000 former workers by offloading billions of dollars in two pension...
Tag: PRT
Judge Backs Dismissal of AT&T PRT Complaint
A Massachusetts magistrate said former retirement plan participants had standing to sue AT&T and State Street Global Advisors but disregarded...
Employer Groups Argue for Reversed Court Decision on Lockheed Martin PRTs
The U.S. 4th Circuit Court of Appeals received an amicus brief arguing that Lockheed Martin was allowed to transfer pension...
Plan Sponsors Reevaluating DB Plan Terminations Amid Surplus Increases
A Mercer survey finds CFOs are looking at plan design changes or risk transfers, in lieu of walking away from...
PRT Lawsuits Get Split Rulings in District Courts
A lawsuit against Lockheed Martin over pension risk transfers it conducted with Athene will continue, whereas a similar lawsuit against...
Verizon, SSGA Face Complaint About $5.9B PRT Transaction
Law firm Edward Stone is representing three former employers who allege Prudential and RGA group annuity contracts are not the...
Prudential Promotes Global Investment Leader Sullivan to CEO
Charles Lowrey will remain chairman, with Andrew Sullivan running the insurer and asset manager and Jacques Chappuis taking over as...
AT&T Files Motion to Dismiss Lawsuits Related to Athene Deal
The telecommunications firm says allegations of fiduciary breach are misplaced and should sit with its independent fiduciary SSGA.
Winners and Losers of the PRT Market Boom
Insurance carriers and asset managers skilled at pension risk transfer are reaping rewards of record transaction levels, while those specializing...
Insurance Group Calls for Public Comment Period on IB 95-1
With the DOL yet to meet a deadline to propose modifications, the ACLI argues changes could put a chill on...
Prudential, Warburg Pincus Partner on Reinsurance Firm
The two financial firms are launching Prismic Life Reinsurance with $10 billion in reserves.
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,...
Understanding PRT: Fiduciary and Admin Considerations
When transferring pension risk via a full or partial buy-in or buy-out, plan sponsors have a fiduciary obligation to ensure...
New York State Fines Pacific Life for PRT Violations
The company was penalized for violating state law by conducting an unlicensed insurance business.
PRTs and In-Plan Annuities Among Top 2022 Trends to Watch
The past two years have been challenging for institutional investors, but they have also brought about opportunities to address some...
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.”
Magistrate Judge: Lawsuit Alleging PRT Advice Failures Should Continue
Among the interesting points of legal discussion in the magistrate judge's report is an evaluation of the standard embraced by...
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...
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.