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 […]
In total, $48.3 billion in pension liabilities were moved to insurance companies in 2022. This is a 40% increase from 2021. According to S&P Global Market Intelligence, $2.5 billion of this risk was transferred to unnamed insurance companies during 2022. The largest of the pension risk transfers to unnamed insurance companies was Newmont Corp, who […]
When a pension risk transfer deal (PRT) takes place, liabilities for retirees’ pensions are transferred to an insurance company. It follows, then, that an insurer’s investment decisions stand to impact retirees directly. Insurers are increasingly transferring payment liabilities to offshore reinsurance companies in jurisdictions like Bermuda and the Cayman Islands. This is very troubling for […]
The Association of BellTel Retirees has published its Spring 2023 newsletter, and Retirees for Justice has been prominently featured. The newsletter includes discussion of our policy priorities for 2023, instructions on how to easily write to your representatives using a feature on our website, and profiles of some of our staff. Huge thanks must go […]
During the Covid-19 pandemic, a measure known as “excess mortality” has been used to predict how many deaths were caused by the disease. The value of the measure is that, at least ostensibly, it factors out deaths from non-Covid causes, showing only those deaths caused by Covid-19. Historical demographic data is used to calculate expected […]
The year ending September 30, 2022 was not a good one for the US’s largest retirement funds. According to Pensions & Investments, the assets of the 1000 largest funds devalued by 13.9% compared to the same time last year. That is a total value of $12.16 trillion. Last year, their total assets were valued at […]
Retirees for Justice Inc. | 175 West Putnam Avenue, 2nd Floor | Greenwich, CT 06830 | (203) 993-6011 | info@retireesforjustice.org
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