Plan Termination Services
Cash Balance and Defined Benefit Plans are set up to accomplish certain goals. When those goals are met, it makes sense to terminate the plan.
Experience: We have facilitated the termination of over 100
Cash Balance and Defined Benefit Plans since 2006.
Proactive Planning and Consulting for Plan Termination:
We find that this is the piece most missing from a lot of takeover plans. Once a plan no longer provides value for a plan sponsor, then it may be time to terminate which takes planning itself.
Pension Risk Transfer: With a plan termination, there may be retirees already receiving monthly pension benefits from the plan or participants that elect a form of benefit other than a lump sum or direct rollover. A plan must then transact with an insurer to make those monthly pension payments after plan termination is complete.