Case study Pension de-risking Our client’s defined benefit pension plan holds $31 billion in assets in a volatile financial climate. With skyrocketing PBGC premiums and unpredictable pension expenses, the firm needed to act. We rose to the challenge, and through various steps removed over $1 billion in liabilities and saved the company over $300 million in PBGC premiums. “We made these changes, but we still have this huge pension liability. ” Through normal growth and acquisitions, this manufacturing company employed 200,000 workers and provided a retirement program consisting of a defined benefit pension plan with $31 billion in assets, and a defined contribution plan with $20 billion in assets. In addition to the pension fund’s growing liability over the years, the compan

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