Penbridge Advisors, a Stamford, Connecticut-based provider of PRT-related services, will primarily help plan sponsors evaluate the cost-effectiveness of annuity buyouts relative to other pension de-risking strategies. Its services include PRT pricing and underwriting assessments, executive and board education, ongoing monitoring of buy-out pricing, evaluation and comparison of various insurance products, and other de-risking alternatives such as lump sums and liability-driven investing solutions.
P-Solve, a London-based provider of fiduciary asset management services for institutional investors, will work with plan sponsors to create and implement an investment and risk management plan to help achieve their pension de-risking and termination goals. The firm will also use its specialized investment skills and deep actuarial knowledge to help plan sponsors invest effectively to close a funding gap and ultimately to manage risk near and at termination.
“P-Solve and Penbridge are well-positioned to provide the market with advice on PRT, as well as the tools to efficiently implement a PRT-focused investment strategy,” says Ryan McGlothlin, managing director and co-head of P-Solve’s U.S. business. He notes that many plans that have implemented de-risking strategies in order to eventually terminate do not target the actual plan termination liability as precisely as they could.
Steve Keating, co-founder and principal of Penbridge Advisors, says, “This alliance offers plan sponsors highly coordinated fiduciary asset management and PRT advice at each step of the pension de-risking process.”