It’s so hard to say goodbye — and terminate a plan. Whether a defined contribution plan or a defined benefit plan, it’s important to understand the steps necessary to properly terminate the plan and make sure you have a solid timeline. Communication is key both between TPA and client, and client and participant. But, whatever you do, don’t blow the PBGC deadlines or the ending could be tragic!
- Nail down the ideal timing goals for the best termination experience.
- Communicate with clarity and prepare for Plan B.
- Remember how to manage the PBGC and satisfy its timing requirement.
Speaker: Alison J. Cohen, J.D., CPC, Partner, Ferenczy Benefits Law Center
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