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Total sales of U.S. single-premium defined benefit (DB) pension buyout products soared above $4.7 billion in the first quarter, the highest pension risk transfer (PRT) sales in that period in more than 30 years, according to data from the LIMRA Secure Retirement Institute. That level is more than triple the value of the previous first-quarter […]
Single-premium pension buyout sales as part of the “derisking” of defined benefit (DB) retirement plans for the first quarter rose 31% from the same period in 2016, totaling $1.4 billion—the highest first-quarter results in 15 years, according to the LIMRA Secure Retirement Institute.
Most employers with traditional defined benefit (DB) plans are interested in transferring their pension plan risk off their books, according to a retirement plan industry think tank that measures pension buyout activity.