55% of Americans1 are worried they will outlive their retirement savings. With market fluctuations, changing interest rates, and Americans living longer, more retirees are choosing annuities for guaranteed income in retirement.

Retirement is not one-size-fits all. Athene advocates for retirees and supports policies that increase accessibility for diverse retirement needs.

Case Study: Securing Retirement Savings for American Workers

Athene’s Pension Group Annuity Protected JCPenney Pensioners During Bankruptcy

When U.S. retail outlet chain JCPenney filed for bankruptcy, the retirement savings for tens of thousands of retirees were at risk. While the company’s assets were being sold off, the pension plan was hanging in the balance. It was slated to be taken over by the Pension Benefit Guaranty Corporation, which would cut the benefits promised to workers.

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Pension group annuities

Pension group annuities, or pension risk transfers, help organizations ensure they can deliver the long-term benefits they have promised to their workers through changing economic conditions and various stages of retirement.

Summary of the pension plan participant before and after PGA

Before pension group annuities

(Corporate plan sponsor manages pension)

Liabilities understated and discounted at aggressive assumptions

May be underfunded

Often 50%+ equities, increasing market risk

Unsecured claim at company

Average BBB/BB rating2

No capital reserved against liability

Potential for benefit cuts from Pension Benefit Guaranty Corporation

After pension group annuities

(Athene manages former pension)

Liabilities accurately valued under current market conditions

Fully funded

97% investment grade fixed income, matched to liabilities3

Assets backed annuity (i.e., former pension) liabilities placed in separate account, insulated from general account claims

Backed by Athene’s ‘A+’ rated claims paying capability, including recourse to Athene’s general account assets4

Extremely well capitalized company - ~$22bn of enterprise regulatory capital(in addition to assets backing the annuity obligation)6

Contractually agree to no benefit cuts

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