Plan Termination Resolution

[Rob P]

What is the actual due date for a sponsor to sign the Board Resolution terminating a DB plan?

Assume the plan was previously frozen, and all participant notices where prepared and distributed on a timely basis. Can they sign it anytime before the designated date of plan termination?

Any input is appreciated.

[Guest Sieve]

Board resolution terminating a DB plan can be adopted any length of time before the termination date. If the plan is PBGC-covered, just make sure there's sufficient time after the adoption of the resolution and before the date of plan termination to distribute the Notice of Intent to Terminate (60-90 days prior to proposed date of termination).

[Rob P]

Thanks!

That's what I thought, but I just couldn't find anything to back it up. The sponsor did distribute notices on a timely basis, but they just forget to sign the formal resolution until right before the proposed termination date.

[david rigby]

If covered by the PBGC, some guidnace on events and timing can be found here:

http://www.pbgc.gov/docs/500_instructions.pdf