The 2015 ERISA Advisory Council will examine disclosure guidelines sponsors use when offering lump-sum pension buyouts and risk transfers in the form of group annuity purchases.
The redoubled effort on risk transfers comes after the council’s work in 2013, when it recommended improved employee disclosures and giving plan participants at least 90 days to decide whether or not to take a lump-sum buyout offer.
It also comes at a time when rising premiums assessed by the Pension Benefit Guaranty Corp. and new mortality tables are prompting more employers to consider risk transfers.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
