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Plan Termination

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Can any provide a brief outline of the steps/requirements for terminating a health and welfare plan? Basically, all I see is that the plan sponsor must follow the amendment procedures in the plan document, make a formal written plan amendment terminating the plan, provide notification to participants, distribute the plan assets according to the terms of the plan and ERISA, file a final Form 5500 and distribute a final SAR. It appears the requirements are far less than with a DC or DB plan and that basically there is not much to it. I know my outline above is extremely simplistic, but is it basically correct or am I missing anything? Does anyone know of any guidance on the matter?


Benjamin Smith

Senior Manager - Indirect Tax

Ernst & Young



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