Your pension is secure. Here is what is changing.
Effective June 1, 2026, F&G Insurance Company will be managing your monthly pension payments.
Your benefit amount is locked in and will not change.
Transition date
June 1, 2026
Change to monthly amount
No change
An Update Video from our Leadership
Key facts about your transition
01
Your amount is locked in
Your monthly benefit will not change. What you receive today is what you will receive from F&G.
02
Paid on the 1st business day of the month
F&G will deposit payments on the first business day of every month, beginning June 1, 2026.
| Payment | Paid by | Date |
|---|---|---|
| May 2026 payment | Northern Trust | May 22, 2026 |
| June 2026 payment New | F&G Insurance Company | June 1, 2026 |
| All future payments | F&G Insurance Company | 1st business day of each month |
03
No action required
Your banking information transfers automatically. You will receive a Welcome Package from F&G in May.
04
Beneficiaries transfer
All beneficiary designations and payment options are transferred exactly as they are.
05
Strong protection
F&G's core expertise is guaranteeing lifetime income.
FAQ
The Plan Trustees identified annuitization as the wisest long-term way to secure your retirement income, fulfilling a commitment made to you in 2017 to move toward the highest level of protection available. By purchasing annuities from Fidelity & Guaranty Life Insurance Company, we are fulfilling this decision.
No. This is a proactive strategic move made from a position of strength. We are taking this step now to ensure that the promise made to you remains secure for decades to come.
June 1, 2026.
No. Your gross monthly benefit amount is locked in and will not change. The amount you receive today is the same amount you will receive from F&G.
Beginning June 1, 2026, F&G will make your payments on the first business day of each month.
No. You do not need to change your bank account. If you currently receive payments via direct deposit, your Welcome Package will explain how to verify your existing banking information with F&G to ensure payments continue without interruption. F&G encourages enrollment in direct deposit via prt.fglife.com or by calling 1-833-418-1940.
Yes. All beneficiary designations are being transferred exactly as they are to F&G Insurance Company.
Beginning May 18 F&G will be providing detailed contact information in your welcome package. You will have a dedicated customer service team at F&G.
F&G will be your primary contact for account changes. Your Welcome Package will include dedicated customer service details. You can also visit prt.fglife.com or call 1-833-418-1940 (available Monday–Friday, 9:00 a.m.–6:00 p.m. ET, beginning May 18, 2026).
F&G was selected through rigorous due diligence for their best-in-class financial ratings, extensive experience managing pension annuities, and alignment with our standards of integrity and service. Established in 1959, F&G is headquartered in Des Moines, Iowa, and is a member of the Fidelity National Financial (FNF) family — a FORTUNE 500 company. Their products have protected over 1,000,000 people across the United States.
For the 2026 tax year, you will receive two 1099-R forms: one from Northern Trust for payments made before the transfer, and one from F&G for payments made after June 1, 2026. Going forward, F&G will provide all tax documentation.
Yes, your benefits remain fully secure.
No. All terms of the benefit option you selected at retirement are being transferred exactly as they are. You will receive a Welcome Package from F&G in May confirming your specific details. Please review that package carefully to see how F&G provides ongoing support for your selected option.
Because this is a group-level strategic decision made by the Plan Trustees, individuals cannot opt in or out.