Korea Investment & Securities Strengthens AS Service for Underfunded Retirement Pension Clients

Korea Investment & Securities announced on September 25 that it will strengthen its After Solution (AS) service for defined benefit (DB) retirement pension clients with insufficient reserves, in order to enhance post-management support.

This measure aims to help ensure the stable operation of retirement pensions and the protection of employees' retirement benefit rights by providing clients with precise guidance on the required funding levels and supporting them in resolving issues that could result in fines under the Employee Retirement Benefit Security Act. A representative from Korea Investment & Securities stated, "Until now, we have not been proactive in post-management for clients with insufficient reserves, which has led to prolonged underfunding in many cases. Moving forward, we will actively manage these clients through continuous post-management and in-person consulting services."

The service consists of customized post-management for underfunded companies, consulting to resolve funding shortfalls, and proposals for competitive products. Through this program, clients receive accurate calculations of required contributions to achieve their target reserve ratio, annual guidelines for addressing shortfalls, and recommendations for advantageous products based on their contributions.

Kim Soonshil, Head of Retirement Pension Operations at Korea Investment & Securities, said, "Based on our accumulated management experience, we have strengthened our AS service to take full responsibility for clients with insufficient reserves. Going forward, actuaries and investment experts will conduct on-site briefings for clients experiencing difficulties in managing the system, creating a pension environment that both companies and employees can trust."

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