In 2021 alone, more than
For retirees, risk reduction presents many risks and no benefits, as group insurance annuities are much less regulated and less secure for retirees.
For these reasons, Verizon and
The LES Accountability Act would direct the
The non-profit association
In 2012, 41,000 Verizon retirees saw their pension transferred to a group annuity. These insurance annuities offer less protection than traditional pensions. The wave of risk-reducing transfers has only grown since then, concerning retirees about the transparency and stability of the entities overseeing their pension payouts.
Given that so many insurance companies, and their assets, are being taken over by private investors and hedge funds – some of which use offshore affiliate holding companies – the PRT Liability Act is poised to provide guidance essential for companies looking to select the safest annuity provider available.
President of BellTel
Among the recent transactions of 2021,
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