20 pages. "In 2015, over 80% of sponsors report that they either have implemented a dynamic de-risking strategy, or are currently considering one for their plan. Those that have already implemented dynamic de-risking are almost universally satisfied with the outcome (88%).... Seven in ten (70%) indicate they are funding more than the minimum required. Many sponsors are taking advantage of low interest rates and borrowing to fund the plan -- improving funded status and reducing PBGC premiums. Normalized survey results show that more than 30% have implemented or plan to implement such a strategy, and an additional 12% are actively evaluating one.... Another notable development in the marketplace has been the interest in pension risk transfer transactions through either lump-sum cashouts to participants or annuity buyouts to an insurer.... [A]n increase in [interest] rates could result in a rapid increase in demand for buyouts, leaving many plan sponsors unprepared to make the most of attractive prices."