Purchase of overfunded DB plan

[Guest Jae]

Client is doctor's corporation with a DB plan. The plan is overfunded by approximately $2 million. What are the mechanics of "selling" this overfunded plan to a third party? Is the transaction acheived by merging the doctor's corporation into another entity or is a portion of the plan spun off an then sold? I am a DC guy without much DB experience, so cites to good secondary sources would be helpful.

I am told that the going discount for this sort of transaction is about 30% (ie the doctor will get about $.70 on the dollar). Is this in the ball park?

Thanks in advance.