(Photo: Shutterstock)

Some of the country’s largest and most storied brands like Ford and Coca-Cola have long offered a pension plan—a benefit that historically helped maintain talent and reward employee loyalty with the promise of a steady stream of income lasting the length of the employee’s retirement. In fact, a recent survey by Athene uncovered that over one-third of Americans (36%) indicated that they are primarily dependent on employer-sponsored retirement plans to save for retirement. Yet the world of private-sector pensions has become increasingly smaller, with only 15% of private industry employees being offered a traditional pension plan in 2021, according to the Bureau of Labor Statistics.

Some may argue that today’s market and regulatory environment has made it too difficult for companies to manage their pension plan liabilities, but there is a “glass half full” solution. One of the biggest ways for companies to lighten their balance sheets while sustaining employee loyalty is by offloading pension risk via Pension Risk Transfer (PRT).

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

 

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.