Senators Question Federal Insurance Office About Pension Risk Transfers

On September 8, 2022, the U.S. Senate Committee on Banking, Housing, and Urban Affairs held a hearing on Current Issues in Insurance. Mr. Steven Seitz, Director of the Federal Insurance Office, testified at the hearing.

Senators Elizabeth Warren and Sherrod Brown asked Mr. Seitz especially incisive questions on the effects of pension risk transfer deals on retirees’ protection from risk.

Watch Senator Warren question Mr. Seitz and hear Mr. Seitz’s response here.

Watch Senator Brown express his concerns and hear Mr. Seitz’s response here.