Regulation
PBGC Adjusts Quarterly, Monthly Interest Rates
Interest rates for late payment liability, ERISA 4044 annuity discount rates and variable rate premiums have been adjusted, the PBGC announced.
Increased volatility caused by coronavirus likely to keep risk transfer market booming.
Truck manufacturer transfers $268 million to two insurers.
Move is expected to reduce liabilities by 30%, and participants and beneficiaries by 50%.
Transaction is largest risk transfer in US since Verizon/Prudential deal.
Dividend payments are a result of a 16.2% return for the state’s core fund.
Deal is largest of its kind for Aviva.
Report finds less than half of Baby Boomers and GenXers have any retirement savings.
Non-qualified sales buoyed variable annuity market, IRI reports.
Sharp decline continues two years after new rules allow withdrawals without annuities.
Move will reduce the company’s pension obligation by $220 million.