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Pension Risk Transfer agreement covers approximately
“We are very pleased to have been selected to provide pension benefits
This is the largest U.S. pension transaction by premium in the last five years and continues the market trend of more plan sponsors choosing to transfer their pension obligations to insurance companies. According to MetLife’s 2017 Pension Risk Transfer poll, 57% of plan sponsors – up from 46% in 2015 – are interested in annuity buyouts for their defined benefit plans. Of those interested, 77% said they are likely to do so in the next two years.
“At MetLife we are focused on delivering value for our customers every step of the way,” said Khalaf. “We have been investing in our administrative capabilities and enhancing our processes to deliver best-in-class service.”
This transaction, subject to certain conditions, is expected to close on
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