Pension risk transfers—in which employers move workers off their pension plans by purchasing annuities—must be done using the “safest available annuity” in order to satisfy legal requirements, the consumer advocacy group said in a Jan. 10 amicus brief. AT&T’s process in selecting annuities from subsidiaries of Athene Holding Ltd.—which retirees criticize as overly risky and improperly connected to private equity—fell short of this requirement, the ...
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