As we predicted and forewarned, we have seen, since Verizon became an early mover, so many other companies that have gone down the road of risk transfers. The horse has left the barn and this represents, in our opinion, the final unfortunate act for the once-great U.S. private pension system.
In a followup interview with Jack Cohen, Association of BellTel Retirees chairman, he says his association and others warned the PBGC that risk transfers would harm the insurance system.