The litigation risk around Pension Risk Transfer annuities is increasing, not decreasing. Recent developments expose the central contradiction in the industry’s defense: sponsors, insurers, and regulators describe PRTs as a harmless substitution of one payor for another, while the transaction actually strips retirees of ERISA fiduciary protections, PBGC insurance, federal disclosure rights, and diversified plan … Continue reading PRT Updated Litigation Risk: Pension Risk Transfer Annuities