An efficient and effective pension de-risking solution
The American Water Works Association (AWWA) knew that they needed to reduce their pension risk, but a full plan termination could take years to execute.
They decided to transfer the pension risk through the Pacific Secured Buy-In group retirement annuity.
"AWWA was pleased to be able to execute a strategy where we could effectively eliminate the financial risks of the plan and solidify our participants’ retirement benefits with a very strong company." Kevin Mann, chief financial officer of AWWA.
The attached press release explains how they were able to stabilize their plan’s funded status. Going forward, when they are ready with all of the rest of their planning, the actual transfer from a buy-in to a buy-out is a simple transaction.
Read the Press Release