"[It's] a good idea for plan sponsors to think of de-risking as a series of steps, with a spectrum of possible choices at each step, rather than as a 'once-and-done' transaction. At one end of the spectrum is a liability-driven investment strategy in which asset allocations are generally intended to match plan liabilities. On the other end is the pension buy-out, through which the liabilities and assets are transferred to an insurer. A pension buy-in, which shares aspects of both, lies between the two on the spectrum.... Buy-ins vs. Buy-outs ... How a Buy-in Works ... Accounting and Funding Status Implications ... Buy-in Decision-Making ... Buy-in Checklist."  MORE >>