Pension Risk Transfers

Subscribe to Pension Risk Transfers via RSS

Since the first quarter of 2024, 10 plan sponsors (along with named and independent fiduciaries) have been sued in 13 putative class actions challenging pension risk transfers (PRTs), which are transfers to insurance companies of a portion or all of a defined benefit pension plan’s liabilities through the purchase of a group annuity contract.  Generally…

On March 28, 2025, two neighboring district courts issued sharply contrasting decisions on constitutional standing in lawsuits challenging pension risk transfers under the Employee Retirement Income Security Act of 1974 (“ERISA”).  The United States District Court for the District of Columbia, in Camire et al. v. Alcoa USA Corp. (“Alcoa Decision”)…