Underwriting
TV Windows are examples of this kind of phenomenon where asymmetric information allows a participant to make a decision on their own longevity against the insurer.
What is Antiselection?
When an employer offers a lump sum for pension benefits, often inside a limited window.
What is a Buy Out?
GUI
What is Graphical User Interface?
When an insurer purchase all liability associated with a pension plan tranche including administrative responsibility.
What is a lift out?
PAD
What is Provision for Adverse Deviations?
A process entered into to eliminate a pension plan.
What is a plan termination?
PRLM
Prudential Regular Longevity Model
When the DB plan sponsor purchases a contract from an insurer to cover the benefits promised to a select group of participants but retains administrative responsibility for them. In this transaction, the DB plan sponsor transfers only investment risk and mortality risk to an insurance company.
What is a buy-in?
PBGC
What is Pension Benefit Guarantee Corporation?