The Wall Street Journal Highlights Pension Risk Transfer Lawsuits Brought by Schlichter Bogard

The Wall Street Journal has highlighted lawsuits challenging deals in which companies including Alcoa, AT&T, and Lockheed Martin unloaded pension plans to insurer Athene Holding, part of an alternative-investment firm Apollo Global Management.

The complaints allege that the defendants violated their fiduciary duties to plan members when they offloaded retirement plan assets to a private equity controlled firm with a risky structure, putting the assets of more than 300,000 beneficiaries at risk.

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