Insurers Issuing Annuity Contracts for Distributions to Participants

[rocknrolls2]

I have learned that most insurers will not quote, let alone issue, annuity contracts to ongoing defined benefit plans covering individual participants. Does anyone have at least a few names of any insurers that will quote and issue annuity contracts in this context? Thanks in advance.

[Effen]

What do you mean "ongoing defined benefit plans"?  Are you trying to buy annuities for active participants who are still accruing benefits?

[Peter Gulia]

Dietrich advertises a capacity to place annuities, without a pension plan’s termination, “for individual plan participants at retirement.”

https://www.dietrichannuity.com/group-annuity-products/individual-placements/

[Bill Presson]

3 hours ago, Effen said:

What do you mean "ongoing defined benefit plans"?  Are you trying to buy annuities for active participants who are still accruing benefits?

I think it’s for terminated participants taking a distribution but not waiving annuity payment. 

[rocknrolls2]

Thank you, Peter, for the lead. Thanks Bill for providing the answer that I would have given to Effen's question.

[Effen]

Are you looking to purchase annuities for current retirees and/or terminated vested participants in an ongoing plan?  That shouldn't be a problem.  

There are around 15 companies that are purchasing annuities.  If this is a small plan (< $10 M)  there are around 5 who would be interested.  If the plan is in New York state, that could be another problem.  

PM me and I can see if I can help.  My firm does a lot of annuity placements.  The plan sponsor can also go directly to the carriers and avoid the crazy commissions brokers charge.