By Christopher B. Tobe, CFA I. Introduction: Judges Are Not Seeing the Real Risk Despite clear, quantifiable evidence that most Pension Risk Transfer (PRT) annuities violate ERISA’s prudence, loyalty, and prohibited-transaction rules, federal courts have repeatedly dismissed PRT complaints on superficial grounds. Judges are not just wrong; they are missing the entire risk story. The … Continue reading PRT’s Why Courts Keep Ignoring the Dangers of Pension Risk Transfer Annuities—And Why These Cases Must Be Appealed