Importance

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Abstract

Various aspects of the present disclosure generally relate to facilitating the structuring, issuing, valuing, and redeeming of debt securities, which in turn may be used to fund retirement plans. More specifically, aspects of the present disclosure relate to a Secured Pension Note (the “Note”). In some aspects, for example, Note can be structured to have an initial principal necessary to fully (or partially) fund a pension plan. That is, the plan sponsor contributes the Note to the plan, subject to terms agreed to by an independent fiduciary, to fund the plan. An amount equal to the initial principal amount of the Note is posted as collateral to a third-party. The terms of the Note provide that after the contribution, the principal amount of the Note may be adjusted based on the funded status of the plan (excluding the value of the Note). Upon termination, a portion or all of the funds may be distributed to the pension plan, the plan sponsor, or other third-party.

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First Claim