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

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

by and Tags:

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.

Related insights

Infographic: Secure Act timeline

The SECURE Act includes several decision points for 401(k) and pension plan sponsors. This...

Read more

Article: Technical insights with Scot Marcotte, chief technology officer – Buck

Scot Marcotte is Buck’s chief technology officer. For 29 years he has helped organizations...

Read more

Article: Tending to the emotional life of the workplace at a time of high stress

In the past, an employee’s mental health wasn’t any of his or her employer’s...

Read more