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<br />secure insurance companies: New York Life Insurance Company <br />("New York Life"), Prudential Insurance Company of America <br />("Prudential"), John Hancock Mutual Life Insurance Company ("John <br />Hancock"), and Principal Mutual Life Insurance Company <br />("Principal").6 This Motion is limited to a discussion of these <br />four insurers. <br />If CF&I had purchased an annuity contract from New York <br />Life, Prudential, John Hancock, or Principal on October 18, 1993, <br />the price of an annuity contract would have been as follows: <br />Insurer <br />New York Life <br />Prudential <br />John Hancock <br />Principal <br />Hughes Aff. q 9. <br />Purchase Price <br />$19,771,084 <br />$19,269,000 <br />$18,584,765 <br />$18,777,055 <br />As of October 31, 1993, the market value of the Plan's <br />assets was $15,445,261. Grange Aff. q 7. If CF&I had purchased <br />°As discussed above, the actual selection of the insurer and <br />annuity contract is made by CF6I, as Plan fiduciary. <br />While CF6I has selected a group of four insurers from which it <br />will ultimately choose, it is possible that unforeseen events <br />(e.a., downgrade in ratings) could cause one or more of these <br />insurers to be eliminated from consideration. Although the <br />possibility of this occurring is small, the point is that CF&I <br />cannot commit to any particular insurer at this time due to <br />constantly changing circumstances. <br />9 <br />