Pension Plan Termination

I have a pension plan that is terminating.  A number of assets in the plan are LLC's that are near worthless, but not easily sellable.  The question is what is the best option to remove these assets from these plans before it is terminated.

Search for a specialized IRA trustee to hold them. 

You can try and sell them even though that might be hard. That's probably the best course if you can do it.

You can apply for a PT exemption and buy them from the Plan at FMV though the cost of doing that might be prohibitive for near worthless assets.

Follow Bill's advice to transfer them to an IRA but that probably just punts the issue down the road and you'd need a participant to agree to take it as part of their distribution (probably the majority owner if it's a small plan) though that technically could be considered a BRF violation though one that's hardly likely to be enforced.

Is this a DB plan and do you might have one or more (annuity/over funding excess assets/under funding/pbgc concerns) issues that you might need to consider or is it a PS plan where those aren't likely to be an issue?