Pension risk transfer premiums fell slightly for the second month in a row in August, a study by Milliman showed.
According to a report of the Milliman Pension Buyout index, the estimated buyout cost as a percentage of accounting liabilities (accumulated benefit obligation) was 102.2% as of Aug. 31, down from 102.3% as of July 31. That month's premium was down from 102.4% as of June 30.
Meanwhile, the average annuity purchase rates among the most competitive rates remained steady in August. The index for competitive pricing stayed at 100.1% as of Aug. 31.