Traditional defined benefit plans are collapsing and many employers are moving their employees to a defined contribution plan. But a few employers are embracing a new concept all together and are instituting a new defined benefit plan for their employees. The Adjustable Pension Plan, or APP, is designed to mitigate the various risks that have caused many pension plans to shut down over the past decades by creating a partnership between employers and employees that enables the pooling and sharing of risk. The APP can be designed to provide employers with a fixed annual cost - just like a defined contribution plan. At the same time, the employees get the lifetime benefit guarantee they desire from a defined benefit plan.
Join us for a webcast to learn more about how this works and the benefits of this new cutting edge retirement plan design and why some employers are embracing this new concept.
The webcast will review:
- Issues related to switching from DB to DC plans
- How DB plans can provide cost stability and enhanced benefits
- How the APP adjust benefits and the options available to plan sponsors
Presenter: Richard Hudson, Principal Consulting Actuary, Cheiron, Inc.
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