From:                                         BCG Pension Risk Consultants <tmccauley@bcgpension.com>

Sent:                                           Monday, August 27, 2018 2:18 PM

To:                                               Terry McCauley

Subject:                                     The Pension Insider February 2017

 

 

 

The Pension Insider

 

The Pension Insider is a monthly newsletter developed for individuals who work in the pension arena. The Pension Insider was created to share ideas, success stories, coming events and industry specific articles.

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February, 2017- Volume 69, Edition 1

 

 

BCG Pension Risk Consultants News

BCG Hires David Geloran

BCG Pension Risk Consultants, one of the leaders in Pension De-risking and Plan Terminations announces the hiring of David Geloran, formerly with Empower Retirement.  David was the business leader of the defined benefit product at Empower Retirement, managing teams in Boston, Milwaukee and Denver. He has expertise in actuarial, operational, relationship management and technological aspects of managing qualified defined benefit plans. His experience includes actuarial services at Willis Towers Watson, software development at Fidelity Investments, and product development and practice leadership at Empower Retirement.

Mike Devlin, Principal at BCG, said, “We are fortunate to have David join BCG.  With the rapid growth of pension terminations and pension de-risking options, David Geloran’s expertise will strengthen BCG’s ability to provide services to Plan Sponsors who are exploring these options.” 

About BCG

BCG is a leading Pension Consulting firm that helps Plan Sponsors better understand their pension liability and risks when considering or nearing implementation of a Pension Risk Transfer. Our experienced Consultants have helped over 2500 Plan Sponsors annuitize over 5 Billion in pension liability since 1983.  BCG has offices located around the country that consult with Plan Sponsors who want to implement Lump Sum De-risking projects, Retiree Lift Out transactions, Fiduciary protection, Pension Termination Analysis and Pension Plan Termination.  

Please contact David Geloran, Senior Consultant at BCG, for additional information. 

Mr. Geloran can be reached at 855-432-7658 x 401

dgeloran@bcgpension.com

 

U.S. Insurers Sense Opportunity in Unwanted Pension Plans  By Suzanne Barlyn | New York | Reuters Business News | Tue Feb 14, 2017 

U.S. insurers are buying corporate pension plans at a record clip as rising interest rates and all-time high stock-market values give companies the perfect excuse to offload them.

Calculating they can make more money from selling companies an annuity to cover the cost of the pension plans and then invest the proceeds in bonds and other securities, insurers are competing to persuade corporate America to sell them their pension risk.

These deals, known as pension risk transfers, have been around for at least 90 years, but they can be limited by a Catch 22: in good times, corporate leaders feel less of a need to rid their companies of pension burdens, and in bad times it is more expensive to do so.

"There's a huge opportunity for the insurance industry," said Ellen Kleinstuber, who advises pension-plan sponsors as an actuary for CBIZ Inc.

Last week, Prudential Financial Inc, the biggest player in pension transfers, said it had finalized $2.2 billion in pension deals during the fourth quarter, including a $1.8 billion deal with United Technologies Corp.

Other large insurers, including MetLife Inc and Principal Financial Group Inc are also competing for hefty pension deals as smaller insurers jockey for a slice of the market.

With so much competition, many pension consultants expect 2017 to be a strong year for pension deals. Pension transfers totaling $8.1 billion were finalized in the first nine months of 2016, according to LIMRA, an industry trade group. The number of deals hit 225, the highest in more than 25 years.

"It's really unstoppable now," said Scott McDermott, a managing director at Goldman Sachs Asset Management who advises companies on pension issues. Click Here to continue reading article

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Contact Us

Austin Office

Patrick McLean, CPA

800-832-7742

 

 

 Boston Corporate Office

Michael E. Devlin, AIF®

800-566-0046 ext. 403

 

David Geloran, CEBS, MBA

855-432-7658 ext. 401

 

 

Chicago Office

David Rumas, FCA, EA, MAAA

219-513-9186

 

Karen Ambrose

800-566-0046 x410

 

 

Cincinnati Office

Debbie M. Sharp, CEBS®

800-566-0046 x405

 

 

Boise/Los Angeles Offices

Sean O'Flaherty AIF®, CRPS®

800-566-0046 x402

 

ANNUITY RATES Standard Pension Closeout/Terminal Funding Case Rates:

(No lump sums, no disability or unusual provisions)

Immediates - 2.58%

Deferreds - 2.83%

50/50 Split of Immediates and Deferreds - 2.71%

 

 

BCG Pension Risk Consultants

We specialize in settling pension liabilities for terminating and ongoing pension plans.

Today’s Solutions for Tomorrow’s Needs. 

 

 

 

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