Get more! Sign up for PLANSPONSOR newsletters.
Compliance March 13, 2008
PBGC Eyes Transition Management
March 13, 2008 (PLANSPONSOR.com) - The Pension
Benefit Guaranty Corporation (PBGC), the nation's private
pension plan insurer, is analyzing its transition management
processes - with an eye toward establishing a set of best
practices for the industry.
Reported by PS
The PBGC has tapped Plexus Plan Sponsor Group, the ITG-owned transition management consultant, to analyze its ongoing transition practices, officials at the PBGC confirm. The $55 billion fund is one of the heaviest users of transition services, according to transition trading desks, although it has historically restricted its dealings to two specific transition managers.
Sources indicate that the PBGC is interested in creating a set of best practices for transitions, and Charles Millard, PBGC director, confirmed this: “It is clear that this area of the industry is in need of a better definition of what best practices are,” he told PLANSPONSOR . “That would obviously benefit the PBGC, but it would also benefit other plan sponsors who use transition managers.”
« Survey Respondents Cite Inflation as Biggest Concern for Retirement