n today’s economic environment, many plan sponsors looking to change from a defined benefit to defined contribution model find themselves with frozen DB plans. Altman & Cronin provides a variety of services intended to help with the plan termination process.
- Financial Analysis – Assess termination liability and surplus/deficit upon termination under various scenarios.
- Compliance Requirements – The plan termination process is complex and full of potential pitfalls. We will help manage the process to help ensure that plan sponsors meet the many compliance deadlines and requirements involved.
- Benefit Calculations – As a plan sponsor considers terminating their pension plan, final benefit calculations will need to be finalized. Our experienced team can help plan sponsors process these to the extent that they are not yet completed.
- Annuity Brokers – Altman & Cronin works with experienced annuity brokers to provide clients with a broad range of timely insurance information.
- Distress Terminations – We have helped plan sponsors interface with the Pension Benefit Guaranty Corporation (“PBGC”) under distress termination situations.