Single-premium group annuity rings up $51 million
INDIANAPOLIS (January 26, 2015) – In its inaugural year, Pension Risk Transfer, a Single Premium Group Annuity guaranteed buy-out product that allows plan sponsors to transfer pension liabilities to OneAmerica, exceeded its first year expectations, ending the year at $51 million in sales premium.
“We’re extremely pleased with last year’s successful outcome,” said Andy Wilkinson, vice president for the companies of OneAmerica. “With our financial strength, commitment to service, and strong investment performance, we expect our sales to grow even more in 2015.”
The Pension Risk Transfer product is offered by OneAmerica and includes administrative services supported by professionals with extensive experience in defined benefit administration. This new offering expands the company’s ability to serve retirement plan clients. As an example, the Kentucky Hospital Association recently terminated their plan and transferred its pension liabilities to OneAmerica after utilizing its defined benefit actuarial services for the last 41 years.
“Knowing that we were working with OneAmerica gave me great comfort in knowing that things were going to be handled right,” said Carol Walters, vice president of education and administration for the Kentucky Hospital Association. “I knew that it would be a seamless transition, which it was, and that our retirees would get the attention that we would want them to get.”
Nationally recognized in retirement plan administration, OneAmerica has more than $16 billion in defined contribution assets under administration and boasts an A+ (Superior) rating, the second highest of 16, from A.M. Best Co. and an AA- rating, the fourth highest of 22, from Standard & Poor’s. “We’ve also built strong relationships with financial professionals and consultants who specialize in the pension risk market,” Wilkinson said. “Serving clients through trusted advisors is core to our vision and is essential to our success.” OneAmericais the marketing name for American United Life Insurance Company® (AUL). Products are issued and underwritten by AUL.