We have a terminating DB Plan with several current Retirees. We have shopped extensively for an annuity provider that would cover all Retirees but are running into a "snag". The insurance companies are willing to quote on six Retirees but none will quote on the seventh. This Retiree was born in 1929 and they say he is just to old to quote with the size of our group as a whole.
Has anyone had this problem. We have corresponded with the PBGC but they just give us the names of a few more insurance companies to try and then mentioned that we could call our State Insurance Dept.
Any suggestions!