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Our Perspective

Annuity Purchase Update: July 2020 Interest Rates

Pension plans have experienced unprecedented volatility in 2020. While the market volatility has caused the treasury rates to fall dramatically, the spread between treasury bonds and the bonds insurance companies invest in have widened. The widening of this spread would typically tell us that now would be a good time for pension plans to purchase annuities.

The PBGC Premium Burden Report – 2020

We are proud to present our fourth annual report on the PBGC Premium Burden, a comprehensive analysis of the experience of roughly 5,000 US pension plans.

DOL releases proposed fiduciary advice Prohibited Transaction Exemption

The proposed PTE would condition relief on the fiduciary providing advice in accordance with “Impartial Conduct Standards” and requires that affected financial institutions and investment professionals acknowledge their fiduciary status and describe (in writing) the services they offer and material conflicts of interest.

June 2020 Pension Finance Update

June was another positive month for pension finance, rounding out a solid quarter during which plans clawed back about one-third of the ‘hole’ created in the first quarter.

DOL releases proposed regulation on ESG investments

On June 24, 2020, the Department of Labor released a proposed amendment to regulations under ERISA section 404(a) (which describes general fiduciary standards), providing regulatory guidance with respect to fiduciary decisions to invest plan assets based on environmental, social, and corporate governance (ESG) factors or in ESG-themed funds.