Defined Benefit Pension Plans: Freezing, Trimming, or Terminating DB Plans and Other Options for Plan Sponsors

BARBRI

This CLE webinar will provide employee benefits counsel guidance on the ins and outs of freezing, modifying, or terminating defined benefit plans (DB plans) and other available options to reduce the costs and risk factors of DB plans. The panel will discuss a variety of options to reduce the administrative costs and risks associated with DB plans. The panel will provide insight into freezing plan participation and benefit accruals, plan mergers, de-risking strategies, plan termination, and other alternatives for sponsors.

Description

Employer-funded DB pension plans have become increasingly expensive and difficult to administer. Employee benefits counsel must carefully consider available options to reduce administrative costs and risks in connection with DB plans, including plan termination if necessary.

DB plan sponsors and administrators struggle with plan funding, insurance premiums, and filing requirements. As a result, plan sponsors have to determine the best course of action, which typically includes freezing or terminating their DB plans and replacing them with 401(k) plans. However, counsel must also consider other alternatives, such as keeping the DB plan if sufficiently funded, plan mergers, and other de-risking strategies.

Listen as our panel discusses options to reduce the administrative costs and risks associated with DB plans, freezing plan participation and benefit accruals, plan mergers, de-risking strategies, plan termination, and other alternatives for sponsors.

Outline

1. Overview of DB plans and challenges
2. Plan mergers
3. Freezing plan participation and benefit accruals
4. De-risking strategies
5. Plan termination and post-termination filings

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