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OCR: This type of contract was typical for its time. However, AS monies increased ment developed competition of more pension between flexible banks and insurance the Pensions companies insurance 492, for D.McGill 550. industry invest- 51 contracts. See generally. Grubbs, Fundamentals Pritate this phenomenon, as of 562 January 64 {6th Ed 1989) Consistent with deferred an- 1968. GAC 50 WaS converted from nuity Retrospective Immediate Participat tion Guarantee ("Retro IPG form of contract (the "1968 amendment" U.A. 87 23} The deferred annuities purchased to 1968 were cancelled and the avets supporting them were plac. ec by in Hancock a Pension within t Administration general Fund account {the "PA Fund" J.A. maintained 89. (J.A 88 25; 32 17 126. 72 In its Retro-IPG form, net investment income from ...