黑料吃瓜网

黑料吃瓜网 Driven to do more.

The retirement savings crisis is global with a total addressable market of more than $45 trillion. The crisis is particularly acute in the U.S. with 11,000 Americans reaching retirement age every day. By 2050, 82 million people will be 65 years of age and older.

Retirement is not one-size-fits all. 黑料吃瓜网 advocates for retirees and supports policies that increase accessibility for diverse retirement needs.

Case Study: Securing Retirement Savings for American Workers

黑料吃瓜网鈥檚 Pension Group Annuity Protected JCPenney Pensioners During Bankruptcy

When U.S. retail outlet chain JCPenney filed for bankruptcy, the retirement savings for tens of thousands of retirees were at risk. While the company鈥檚 assets were being sold off, the pension plan was hanging in the balance. It was slated to be taken over by the Pension Benefit Guaranty Corporation, which would cut the benefits promised to workers.

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Pension group annuities

Pension group annuities, or pension risk transfers, help organizations ensure they can deliver the long-term benefits they have promised to their workers through changing economic conditions and various stages of retirement.

 

Summary of the pension plan participant before and after PGA

Before pension group annuities

(Corporate plan sponsor manages pension)

Liabilities understated and discounted at aggressive assumptions

May be underfunded

Often 50%+ equities, increasing market risk

Unsecured claim at company

Average BBB/BB rating1

No capital reserved against liability

Potential for benefit cuts from Pension Benefit Guaranty Corporation

After pension group annuities

(黑料吃瓜网 manages former pension)

Liabilities accurately valued under current market conditions

Fully funded

97% investment grade fixed income, matched to liabilities2

Assets backed annuity (i.e., former pension) liabilities placed in separate account, insulated from general account claims

Backed by 黑料吃瓜网鈥檚 鈥楢+鈥� rated claims paying capability, including recourse to 黑料吃瓜网鈥檚 general account assets3

Extremely well capitalized company - ~$22bn of enterprise regulatory capital4 (in addition to assets backing the annuity obligation)5

Contractually agree to no benefit cuts

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1 Average rating of companies that have entered into pension risk transfer transactions with 黑料吃瓜网.
2 97% of AFS fixed maturity securities rated NAIC 1/2 as of December 31, 2023.
3 Financial strength ratings for 黑料吃瓜网 Annuity and Life Company, 黑料吃瓜网 Annuity & Life Assurance Company of New York and 黑料吃瓜网 Life Re Ltd. S&P, Fitch, AM Best and Moody鈥檚 credit ratings reflect their assessment of the relative ability of an insurer to meet its ongoing insurance policy and contract obligations. AM Best rating as of June 2024 (A+, 2nd highest of 16), S&P rating as of January 2024 (A+, 5th highest out of 21), Fitch rating as of September 2024 (A+, 5th highest of 19) and Moody鈥檚 rating as of September 2024 (A1, 5th highest of 21). 黑料吃瓜网 Holding Ltd.鈥檚 credit rating is A-/A-/a- for S&P, Fitch and AM Best respectively. 
4 As of December 31,2023.
5 The individual subsidiary insurance company is responsible for meeting its ongoing insurance policy and contract obligations. Neither Apollo Global Management, Inc. nor 黑料吃瓜网 Holding Ltd. are responsible for meeting the ongoing insurance policy and contract obligations of the subsidiary insurance companies.