If the day comes when you need or wish to end your plan, we can guide you through the process. We have assisted with plan terminations and understand the complex rules governing the process. Once the decision to terminate is made, compliance with statutory and regulatory requirements is imperative. We have worked with the Pension Benefit Guaranty Corporation, the Internal Revenue Service, and the Department of Labor in connection with numerous plan terminations and can be your advocate as well.
As employers deliberate the future of pension plans, many are opting to shift away from defined benefits plans completely by eliminating pension plans or freezing then terminating plans. If this is your goal, we can help you work through the process of moving current and past employees out of your pension plan and off-loading as much liability as possible.