Grant E. Shillington

1 week ago | mondaq.com | Amy Gordon |Anne Becker |Justin A. Linder |Grant E. Shillington

2024 was another high-volume year for pension risk transfer(PRT) transactions. But as defined benefit pension plans havecontinued to shift pension risk to annuity providers, planparticipants have been filing lawsuits claiming the PRTs are riskyand/or the fiduciaries choosing the annuity provider have breachedtheir fiduciary duty. A number of these lawsuits involved PRTtransactions to Athene Annuity and Life Co. (Athene), which is aprivate equity backed insurance company.