Regulation
Pacific Life Fined for Unlicensed Pension Risk Transfers in New York
The insurance firm will pay a $3 million fine for unauthorized PRT business conducted in the state.
A new report debunks the ‘myth’ that an 80% funded level means a plan is in good health.
The lobbying group also says a surge in litigation could have ‘significant negative consequences for plan participants.’
But the pandemic has not slowed down pension buyout activity.