More than 90% of corporate DB plans with de-risking goals say they expect to divest all their plan liabilities in the next five years.
But the pandemic has not slowed down pension buyout activity.
Increased volatility caused by coronavirus likely to keep risk transfer market booming.
The aerospace giant will transfer liabilities to the insurer, roughly 20,000 retirees and current workers.
Firm assumed annuitants were dead or unreachable if they didn’t respond to two mailings.
Many businesses are looking to unload all retirement assets within five years, MetLife survey shows.
Insurer failed to pay 13,500 pensioners incorrectly labeled as ‘presumed dead.’
Transaction is largest risk transfer in US since Verizon/Prudential deal.