The total value of pension risk transfer (PRT) deals in the second quarter of 2023 was $16.2 billion. This is a 31% increase from the second quarter of last year, and the highest second quarter sales total to date. The first half of 2023 was also a record high first half year. Total value of […]
Increasing capital flowing from private equity into the insurance industry, particularly in the context of pension de-risking, was a hot topic at the recent ERISA Advisory Council meeting in Washington DC. Life Annuity Specialist captured some of the opposing viewpoints: Those in favor of private equity’s participation in de-risking argued that private equity assets supporting […]
Our Executive Director, Edward Stone, recently had the opportunity to testify before the Employee Retirement Income Security Act (ERISA) Advisory Council in Washington DC, on July 18th, 2023. He appeared on behalf of retirees from several retiree organizations, including Retirees for Justice Inc., the Association of DuPont Retirees Inc., the Association of BellTel Retirees, Inc., […]
When insurance companies reinsure obligations with offshore companies in locations such as Bermuda, US insurance regulators no longer have jurisdiction (or control) over these liabilities. They become the responsibility of foreign regulators. This is attractive for insurance companies – if a foreign country has very few insurance regulations, it is much easier (and cheaper) for […]
The pension risk transfer (PRT) market is continuing to grow at a rapid rate. Single premium pension risk transfers during the first quarter of 2023 were the highest they’ve ever been in a first quarter, according to LIMRA’s U.S Group Annuity Risk Transfer Survey. This is noteworthy because first quarter sales are usually much more […]
In January, NY Senator Andrew Gounardes introduced Senate Bill S274 in the NY Senate. You can see a copy of this bill by clicking here. It contains some important protections for NY retirees whose pensions have been (or will be) de-risked. These include: Mandatory annual disclosures to retirees whose benefits are transferred to an insurance […]
AT&T has transferred $8.1 billion dollars’ worth of employee pension liability through the purchase of group annuity contracts from Athene Annuity & Life Co, and Athene Annuity & Life Assurance Co of New York. The pension risk transfer deal was reported to be concluded on Wednesday May 3, 2023. In August 2023, Athene will become […]
Increasingly, new research shows that it’s important to have acquaintances or “weak ties” in your life. Of course, these weak ties do not replace your family or trusted friends. They are necessary over and above your closest loved ones, to ensure your maximum wellbeing. Paula Span for the New York Times describes the research here. […]
The very first Retirees for Justice Retiree Roundtable, held on April 19th 2023, was a great success. We had fantastic support from our members and friends who attended both in person and online. The details of the day’s presentations can be found on the agenda. We recorded every presentation for those that were not able […]
Attention on Covid -19 related deaths is waning, but the long-lasting effects of Covid-19 are not yet a thing of the past. The Insurance Collaboration to Save Lives has been formed to try and figure out why there remain high levels of death and disease, even though Covid-19 seems like it is behind us. The […]
Retirees for Justice Inc. | 175 West Putnam Avenue, 2nd Floor | Greenwich, CT 06830 | (203) 993-6011 | info@retireesforjustice.org
Mailing Address: | P.O. Box 384 | Maineville, OH 45039 |
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