Each year the ERISA Advisory Council, which held hearings last week, takes up three issues it determines should be addressed by the Department of Labor. One of the issues discussed at the most recent hearing (and elsewhere on Employee Benefits Adviser) is the de-risking or risk transfer of defined benefit (DB) pension plans.
The government’s desire to address this issue is supported by the data coming from industry sources. A recent MetLife Pension Risk Behavior Index (PRBI) showed that in 2013, the PRBI value was recorded at 87 – its highest value since the study was introduced in 2009.
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