Monthly index that tracks the relative attractiveness of annuitizing accured pension obligations.

1. PENSION RISK TRANSFER INDEX ™
September 2011 PRT Index Level
What is the Dietrich Pension Risk Transfer (PRT) Index ™ ?
The Dietrich Pension Risk Transfer Index ™ has been designed to create a monthly 91.78
benchmark that tracks the relative attractiveness of annuitizing accrued pension
obligations by considering three key underlying financial ratios 80 95 105 120
 Funded Status Level (50% Index Weight) Annuitization Attractiveness
 Current /Historical Annuity Rates (30% Index Weight) Plan/Monitor Opportunistic Settlement Attractive
 Annuity Rates vs. Treasury and Corporate Bonds (20% Index Weight) Sept 2010: Jan 2009:
PRT Index =82.7 PRT Index =121.4
Annual PRT Index PRT Index PRT INDEX
Monthly PRT Index
140
108.00
130
110.6 121.4 103.00
120
110 98.00
100 93.00
90 88.00
80 91.5 90.0 83.00
70 78.00
Jan-08 Jan-09 Jan-10 Jan-11
Effective 9/1/2011
Commentary:
Further declines in plan funding levels were offset by gains in annuity rates relative to US Treasuries and Corporate Bonds. Annuity spreads over Treasuries are at the highest
levels seen over the last twelve months, pushing the September Index level up to 91.78 from and August level of 90.1.
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