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

Survey: 2020 Financial Wellbeing and Voluntary Benefits Survey

Buck’s Financial Wellbeing and Voluntary Benefits Survey explores how employers are using voluntary benefits...

Read more

Article: Sounding board: Ground is shifting, benefits plans must focus on individuals

Buck’s Lizann Reitmeier advocates for an industry-wide reassessment of how benefits plans are offered...

Read more

Article: HR technology, analytics may help companies through COVID-19

Chief Technology Officer Scot Marcotte offers insights on how firms can best leverage their...

Read more