"The point that our members were making was those cuts should be equitable," said Scott Reif, a spokesman for Senate Republicans.
Equitable said it would shift the balance of its investments toward fixed income and away from equities to help reduce risk in the future.
In its search for a buyer, Equitable said, it held serious talks with three companies, among them Prudential P.L.C. and Eureko N.V.
Although Equitable said it would stop selling new products as of today, it will continue accepting premiums from and paying benefits to its 600,000 existing clients.
Equitable said in December, after efforts to sell the business outright had failed, that it would close to new business and seek a buyer.
"It might be economically proper, but it's not equitable," said a man shopping at South Shore Health Food who gave only his first name, Austin, and said he lived in Glen Head.
"People understand that things are going horrendously, the paper is losing money and there have to be concessions, but people don't feel that the company tried very hard to make the concessions more palatable or equitable," said Scott Allen, a Globe reporter.
Equitable says it has made clear for some time that it would pass on any benefits resulting from Standard Life's A number of Standard Life policyholders have contacted us to say they are worried they may have been short-changed on their free shares entitlements.
In the ultimatum game, for instance, the proposer usually ends up offering a relatively equitable split (say, sixty-forty) to insure that the other person accepts.
"It must be fair and equitable," he said.
