Pension Rights of Retirees at Risk: How De-risking Shifts Financial Burden onto Workers
DETROIT, MI – Companies in the United States have been shifting their pension obligations to insurers, lessening their own financial risk while leaving former employees to bear more of the burden. This trend, known as pension de-risking or pension stripping, has raised concerns about the potential impact on retirees nationwide. Corporate de-risking involves transferring the responsibility for delivering retirement income promised by defined benefit pension plans to insurance providers, private equity funds, or other financial …