Pension risk transfer premiums fell slightly in April, a Milliman study said.
The estimated buyout cost as a percentage of accounting liabilities (accumulated benefit obligation) was 102.4% as of April 30, down from 102.7% at the end of March.
The cost has fluctuated between 101.8% and 102.7% since the beginning of 2021.
"The last several months have seen steady fluctuations in retiree buyout costs, without huge swings," said Mary Leong, Milliman consulting actuary and the study's co-author, in a news release. "This is good news for plan sponsors that have been monitoring the index and have moved forward with a retiree buyout de-risking strategy. We'll see if the trend holds as we move into summer."