Posts from March 2024.
Over the last several years, numerous large pension plan sponsors have transferred billions of dollars in financial risk related to their pension plan benefit obligations to insurance companies through the purchase of group annuities. Known as pension risk transfer (PRT), these actions have now led to two recent proposed class action ...
In the laundry list of retirement plan administrative and operational requirements, plan sponsors may sometimes overlook their obligations with respect to terminated vested employees. Even though these individuals have left the company, the plan sponsor still retains fiduciary obligations to them. In order to provide them their benefits ...