Pension Risk Transfer
A respected leader in pension risk transfer (PRT) for over 35 years, we offer employer’s Single Premium Group Annuity (SPGA) products for:
Institutionally-priced group annuity solutions are designed for employers who have decided to exit their pension plan by transferring accrued benefit liabilities and administrative responsibilities to an insurer. Annuity contracts provide a guaranteed, fixed immediate or deferred annuity for each plan member and include participant administration services.
We offer clear, well-crafted and expertly underwritten group annuity contracts from $1 million to the billions including buy-in, buy-out, guaranteed separate account and assets in kind transation. Each plan is different and, consequently, each group annuity contract is unique and is based on detailed contract specifications, plan information and annuitant data.
Call us with questions or for assistance.
Benefits of Pension Risk Transfer
Our Pension Risk Transfer (PRT) team understands that many employers and intermediaries are unfamiliar with single premium group annuity products and pension plan buy-outs, buy-ins and settlements. For pension consultants, actuaries and advisors tasked with an SPGA placement assignment, we’re available for guidance and support:
We pioneered the industry’s first SPGA Contract Installation and Benefit Administration Guide for pension plan terminations and settlements, containing details on financial quality (criteria defined by Department of Labor concerning rules for insurer selection), annuity contract experience and service capabilities, contract installation procedures and data requirements, sample participant correspondence and notifications, and a sample group annuity contract.
We are recognized as a premier SPGA underwriter and administrator of customized contracts. Plan advisors and their clients appreciate our expertise, flexibility and collaborative approach in developing accurate, cost-effective contracts for all sizes and types of defined benefit pension plans, along with unique benefit provisions and special administrative services.