AT&T seeks to dismiss 2 lawsuits targeting pension risk transfers of 96,000 participants

Retirees claim that AT&T selected a "risky" insurer, Athene Annuity and Life, to conduct the $8.05 billion pension risk transfer of plan assets, but the company claims it is not responsible for a decision made by its independent fiduciary.

By Lynn Cavanaugh | June 13, 2024 at 11:21 AM

AT&T filed a motion last week to dismiss two lawsuits alleging the company, as well as State Street Global Advisors Trust Co., selected a "risky" insurer, Athene Annuity and Life Company, to conduct its $8.05 billion pension risk transfer in May 2023, offloading the pensions of 96,000 of its plan participants.

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AT&T seeks to dismiss 2 lawsuits targeting pension risk transfers of 96,000 participants

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

1 Bipartisan bill could curb vision benefit managers

2 Another pension plan risk transfer lawsuit: Lumber firm sued over its $1.5B transfer to Athene Annuity

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AT&T seeks to dismiss 2 lawsuits targeting pension risk transfers of 96,000 participants

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

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1 Bipartisan bill could curb vision benefit managers

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