Pension risk transfer costs increased in October: Milliman

During October, the estimated cost to transfer retiree pension risk to an insurer in a competitive bidding process increased from 100.1% of a plan's total liabilities to 100.8%, according to actuarial consultant Milliman Inc., reports GoSkagit.com. During the same time period, the average annuity purchase cost across all insurers in the Milliman Pension Buyout Index decreased, from 103.1% to 102.9%.