Employee Benefits and Executive Compensation partner Randy Tracht will present at the “Pension Settlements Strategies Summit” sponsored by Pensions & Investments.
The Legal and Regulatory Framework for Pension Plan De-Risking
October 6, 2016 | 3:10 - 4:00 PM
With the Updated Static Mortality Tables for Defined Benefit Pension Plans, the prohibition by the IRS of lump sum payouts for pension retirees, and the increases in PBGC premiums, the regulatory framework governing pension plans has changed considerably in the past year. Added to the changing landscape are high-profile lawsuits by participants either not happy with the plan sponsor’s management of pension investments or unhappy at a proposed or executed risk transfer. As the rate of pension de-risking is expected to continue or accelerate, it also helpful to understand the regulatory framework of the insurance industry. NOLHGA recently completed a study that showed that due to the strength of the regulatory framework governing insurance companies, retirement funds are as safe with an insurance company as they are under ERISA and PBGC protection. This panel will review both the current legal and regulatory framework for ERISA-backed retirement funds and annuities placed with insurance companies and compare the benefits for plan participants.