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Pension de-risking: Five tips for crafting a good “goodbye letter”

Pension de-risking: Five tips for crafting a good “goodbye letter”

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In nearly all group annuity buy-out transactions, there comes a point after the insurance company is selected, but before the carrier takes over payments to participants, when the plan sponsor sends a communication to those affected by the transaction explaining the administrative changes to their pension payments.

This communication is commonly referred to as a “goodbye letter” and is a crucial part of the transition process once a plan sponsor selects an annuity provider. It provides practical details about the group annuity transaction, while allowing plan sponsors to send a positive message to their employees, both current and former, depending on the type of transaction.

Based on our experience with numerous annuity purchase transactions, there are five essential tips that you’ll need to consider in order to draft an effective letter. Download our whitepaper here.

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