The current economic climate has caused fluctuations in plan investments and the interest rate used to value pension liabilities. As a result, the funded status of defined benefit plans is more uncertain than ever. Plan sponsors are left to manage the real-world financial and employee relations effects of this uncertainty. To limit these effects, many plan sponsors are exploring options for shedding as much pension liability as possible.
In this breakfast briefing, we will focus on practical steps plan sponsors can take to manage pension risks by settling current liabilities.
Program Topics Include:
- Recent settlement activity in the news
- Lump sum cash-outs to former employees and current retirees
- Purchasing fully-funded third party annuities for current retirees
We will discuss key financial considerations, design decisions, participant impact, and steps for implementation for both lump sum cash-outs and annuity purchases.
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